Keynes referred to the speculative motive for holding money as quot the object of middot secur...........

Economics -II Theory of employment, Output, Inflation, Money and Finance

Keynes referred to the speculative motive for holding money as "the object of· securing profit from knowing better than the (bond) market what the future will bring forth". How does it differ from Tobin's formalization of the speculative demand for money. (300 words) (20 Marks)

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