bwaber@bookwyrm.social reviewed Marketcrafters by Chris Hughes
A Good Book on Markets with a Flawed Finish
4 stars
This book provides a great individual-focused history of how much intentional, ideologically-driven effort has gone into shaping US financial markets in the last century. On this front it's excellent, demonstrating clearly that the "free market" is a myth - government and society and ideology always shape financial market transactions. It falters and then falls apart in the last three chapters, pivoting to non-financial markets despite essentially ignoring them in earlier periods. Beyond that, these chapters become exhibit A on why you shouldn't try write books on current events, especially on ones where you're involved. Hughes interactions with and praise of Larry Summers in particular come out as absolutely disgusting today. If you skip those last three chapters, however, it's a worthwhile read. Highly recommend
This book provides a great individual-focused history of how much intentional, ideologically-driven effort has gone into shaping US financial markets in the last century. On this front it's excellent, demonstrating clearly that the "free market" is a myth - government and society and ideology always shape financial market transactions. It falters and then falls apart in the last three chapters, pivoting to non-financial markets despite essentially ignoring them in earlier periods. Beyond that, these chapters become exhibit A on why you shouldn't try write books on current events, especially on ones where you're involved. Hughes interactions with and praise of Larry Summers in particular come out as absolutely disgusting today. If you skip those last three chapters, however, it's a worthwhile read. Highly recommend