"Studying Economics Seems to Make You a Nasty Person"
This will start my "Fun with Henwood" series. Doug Henwood wrote a book called "Wall Street" back in 1997. I discovered it while reading Nomi Prins' "Other People's Money". She called his book "visionary" and it was in its prediction of bad times from bad behavior. It is also written from a very left point of view and so has a direct, shooting straight from the hip, irreverent, and humorous style. (He calls Greenspan's writings in the Ayn Rand "Objectivist" newsletter, "demented jottings".)
In the chapter on Market Models, Henwood explains modern economic theory and its belief in the purity and perfection of the market. These words like pure and perfect make the market sound like some kind of temple with the high priests of finance ritualistically washing their hands and waving incense bombs. Ironically with all this purity, Henwood points out that there is a very crude side to the players on Wall Street. He says "Despite their reputation for sophistication most Wall Streeters hold a raw selfish view of the world."
In the chapter on Market Models, Henwood explains modern economic theory and its belief in the purity and perfection of the market. These words like pure and perfect make the market sound like some kind of temple with the high priests of finance ritualistically washing their hands and waving incense bombs. Ironically with all this purity, Henwood points out that there is a very crude side to the players on Wall Street. He says "Despite their reputation for sophistication most Wall Streeters hold a raw selfish view of the world."
