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The Universal Scientific Publications Company, Inc. In his Course V-30, Investments and Insurance, Andrew Galambos rationally and precisely defines many financial terms, including investment, insurance, speculation and gambling. Speculation, he lectures, is any purchase made with an intent to resell at a profit, based upon anticipated change in market price. There is no intent to put the item to productive use; that would define it as an investment. Only a jeweler (or a metallurgist or a chemist) can invest in gold. For everyone else, it is a speculation. He adds that speculation is not limited to precious metals. Historically, people have been varied and imaginative in their vehicles for speculation, from pork bellies to tulip bulbs to the current frenzies over childrens’ dolls. More dangerously, many who think they are investing in the stock market are, in reality, speculating. Galambos points out that some speculations are of a higher quality than others. If a product is of long-term ideological significance, and is based in morality and rationality, its future appreciation is assured, provided the species survives. Such are the speculative products available from Galambos and his companies, namely the commemorative items to be found within these pages. Andrew Galambos’ commemorative coin-medals are yet another means by which he pays tribute and gratitude to his most important predecessor and teacher, his father, Joseph Brown-Galambos, and to Thomas Paine, founder of the American Revolution. Also available are coin-medals struck on the occasion of the tenth and fifteenth anniversary of the founding of The Free Enterprise Institute, Galambos’ private, profit-seeking school. Lastly, the coin-medal dedicated to Positive Victory is a beginning description of Galambos’ identification of two types of victory, (negative)2 and positive. The Free Enterprise Institute’s 15th Anniversary
Coin-Medal
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© Copyright, 1961+, Andrew J. Galambos, et. al. |
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