‘The Human Side of Markets’

Mehrsa Baradaran, The Color of Money: Black Banks and the Racial Wealth Gap (2017); Andrew Lo, Adaptive Markets: Financial Evolution at the Speed of Thought (2017). Too often when discussing matters of markets and finance, policymakers and scholars lose focus of the basic fact that people are at the core of markets and finance. It is people who move markets. It is people who generate supply and demand. It is people who need financing – for homes, for investments, for education, for healthcare, and other life decisions. Behind the faceless reams and terabytes of data are people who make up the fuels and gears of the marketplace. Behind the powerful models and promising technology that frequently dominate the contemporary financial markets are people. Properly recognizing the fact that people are at the heart of markets and finance is one of the critical keys to better understanding and harnessing the power of markets and finance … (more)

[Tom CW Lin, JOTWELL, 13 August]

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