Joakim Book

What to Read on Money

As an introduction to the topics that will be dealt with in the AIER Graduate Colloquium, over the next few weeks Joakim Book will summarize the core readings that our students are currently reading to prepare for a good discussion at the event.

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Two Grand Traditions in Financial History

Before New York acquired its status as the financial center of the world, the honor of that title was reserved for London and, before then, Amsterdam for roughly a century each.

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There’s No Such Thing as Socially Harmful Speculation

Financial markets, including markets for complex instruments that may just look like speculative casino bets, allow important real transactions to occur. And in a brilliantly decentralized way, they bring into harmony people whose information, values, goals, and risk aversion differ.

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Yes, You Can Sell What You Do Not Own

To remain consistent, opponents of so-called fractional-reserve banking have to denounce overbooking practices among airlines as well as the entire business of insurance.

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