Ethics of the GameStop Short Squeeze
Doug McConnell,
Practical Ethics,
Feb 09, 2021
I think there's a pretty good object lesson in ethics around the GameStop short squeeze (previously covered here) but I hope that instructors discussing the lesson view it more broadly than Oxford research fellow Doug McConnell. For the most part, his discussion is focused on whether it was legal, with a brief excursion into who would be to blame and whether they would get caught. But there are many more things to discuss. For example, do hedge funds deserve the losses they were forced to take? Was RobinHood justified in cutting off trading to retail investors? Is it fair to treat large self-organizing groups of independent investors according to the same rules as large companies with centralized decision-making? I think all of these merit discussion, and are far more interesting than "was it legal?"
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