Just as the body is subordinate and good when it aligns itself with the will, the will is good when it is subordinate and aligns itself with that which is eternal—God. Arguably one of the most influential theologians to have ever existed, his thoughts on philosophy and theology remain relevant in the minds of scholars today.
It is no surprise to me that the term money manager has by and large replaced the term investment manager.
An analogy might suffice to illustrate why speculators ought to be accountable for their actions, even if they are completely ignorant. Many of Augustine's ideas, such as those concerning sin and predestination, became integral to the doctrines of the Roman Catholic Church.
Augustine argued that God endowed us with free will as well as rationality. The first book develops a definition of sin that is reworked in the second book, while the third book confronts the difficult question of why God, the cause of the will, is not also the cause of sin.
Meanwhile, speculators are concerned only with returns and lack the prudence to acquire the knowledge needed to obtain it.
The obvious answer is that speculation much more often than not results in permanent capital losses, as opposed to large, long-term, risk-adjusted returns seen from investing. On the Free Choice of the Will, written by 4th and 5th century early Christian theologian and philosopher Augustine of Hippo, also known as Saint Augustine.
The texts are translated into clear and readable English and edited and annotated by Peter King, who is certainly an accomplished Augustine scholar and philosopher.
The second tells us of his earlier inability to understand that free choice is the cause of our doing evil and that God's just judgment is the cause of our suffering evil.
Before he can argue his position, St.