Wednesday, 19 June 2013

forestaller - wiktionary.org

Original Article: "forestaller" http://en.wiktionary.org/wiki/forestaller

1/ A person who forestalls, especially one who buys goods before they can be sold on the open market in anticipation of rising prices

Usage notes
For at least a period of time in the late-18th century, under English Royal law, forestaller had a more narrow meaning which included the concept of not selling again in the same market within three months.  By this de jure restriction, legislation attempted to distinguish between a socially useful function (storing grain for a potential future dearth) and an alleged socially harmful function of buying up grain so as to increase the price to the poor or needy by facilitating a so-called excess profit to the intermediary.