Economists and financiers have in contrast stockmarkets to playing since 1936, when Keynes warned of “the capital improvement of a rustic becom[ing] a by-product of the actions of a on line casino”. In 1999 Jack Bogle of Vanguard decried the “Wall Avenue on line casino” the place solely croupiers acquired wealthy, and in 2023 Warren Buffett wrote that “markets now exhibit way more casino-like behaviour than…once I was younger”.
