But, as our briefing explains, a revolutionary force is rising from below: a new class of traders and merchants.
A new class of traders emerged, operating outside the official system and establishing corrupt ties with party officials, according to analysts in Seoul.
Mr. Nelson's bill, the Anti-Excessive Speculation Act of 2011, sets limits in energy contracts that would apply to speculators as a class of traders, aiming to cap the overall level of speculation in the market at its historic 25-year average.
Adam Smith wrote in the 18th century that trade regulations "may, I think, be demonstrated to be in every case a common piece of dupery, by which the interest of the State and the nation is constantly sacrificed to some particular class of traders".
The strongest steps the government took against markets and the new class of traders who have profited from them began in late November when it abolished its old bank notes, requiring North Koreans to turn in their money for new bills at a rate of 100 to 1.
Collectively, this privileged class of traders did quite well for itself -- raking in some $22 billion in compensation, according to AR Magazine.
Many livedoor investors were a new class of day-trader: young fans of the kind of business iconoclasm that Mr Horie typified, and housewives in Osaka who had found in the stockmarket a beguiling way to top up the family income.
The empirical results from Granger causality reveal that return lead speculative position, which indicates that non-commercial or managed money traders are a class of positive feedback traders or trend followers; and also reveal that the position changes held by speculative traders will cause crude oil price movement.
And there is a new class of "war rich": traders, smugglers, friends of Saddam.
So, apparently, were a lot of traders.
