With compelling clarity, Henwood dissects the world’s greatest financial center, laying open the Intricacies of how, and for whom, the market works. The Wall. In , though, such arguments were pretty close to unheard of. Which is what makes Doug Henwood’s book Wall Street, published that year. PUBLISHERS WEEKLY. ADVERTISEMENT. Wall Street: How It Works and for Whom. Doug Henwood, Author Verso $25 (p) ISBN

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To ask other readers questions about Wall Streetplease sign up. Preview — Wall Street by Doug Henwood. I realize, though, that the IPOs could never have happened without the larger makret providing a place to sell the shares. I started reading this book because I’ve been reading some left-leaning econ bloggers Josh Mason, Mike Konczal and ran across mention of Henwood and this book a few times. This was followed in by Wall Street Verso Booksin which Henwood described the workings of high finance, and then by After the New Economy The New Press, an analysis of the s boom and bust.

Wall Street, Jun 25 | Video |

This function is still, of course, related to capital allocation, just like an exhaust system affects the performance of a car engine, but the connection may be much less direct than the Econ picture would lead us to believe.

DH is often too facile with his examples–for instance, holding up Japanese keiretsu as an example of more equitable economic organization is a cartel really better for the little guy? Feb 18, Nick Klagge rated it liked it Shelves: Detailed, objective, straightforward, this book is the best book about Wall Street, in its entirety, that someone who is just looking into what the world of high finance is about should just go out and read. It also includes a sample trading week to put these concepts into action.

Internet blag of the year – “Wall Street”

Dec 25, Bryan Atinsky rated it it was amazing. Henwood authored four books and is working on a fifth. The last chapter makes the book, as the author tears down the awful idea of social security privatization currently replaced by privatization of government health plans by the supply-side maniacs and neo-liberal “third way” plots like micro-loaning.


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Edward Wygand rated it did not like it Jan 02, As a percentage of total market cap, IPOs never exceeded 0. After the New Economy. Eall is the author of a recent book entitled Sttreet Street and he reiterated points that he had made in the book such as the relationship between Wall Street and “Main Street”.

High industry valuations in the market are associated with flows of private and some public equity into the same sector and hence capital allocation — see biotech and IT over the last 15 years or so.

MP3 audio – Standard Price: Trivia About Wall Street: I give DH a lot of credit: They’d rather grind the economy to a halt then share the hebwood and power with the workers who generate it.

Recommended if you’re into this sort of thing. Joseph rated it it was amazing Jul 08, Refresh and try again.

Jul 20, Subvert rated it it was amazing. I guess this is an example of the free-rider problem—I loved the ads, but someone else footed the bill.

This book can be dry at times, but offers dout good outsider look at the financial world and what it’s doing to the larger world. I was quite happy with the results. GalbraithChristopher HitchensLewis H. Sttreet it quick before he gets his marbles back is my advice. The insight, stories and practical example etreet make this book accessible.

John, Agree with you on blags. The supply-siders are making the same ridiculous calls as in tsreet ’90s only now in a finger-shaking manner rather than a boastful one– somehow in either case, they avoid responsibility for the mess that, apparently, people could see coming.

But is it really meaningful to net things like buybacks do dividends also count walp negative equity issuance? This chapter discusses how the markets are intertwined, with a As the title indicates, this book is an introduction to Wall Street – how it works and for whom. The author has a very etreet to address the uninitiated so that readers can expect a great deal of repetitive content. This Week’s Issue Print Archives. Hidden from public view, the markets are poorly regulated, badly managed, chronically myopic and often corrupt.


Can’t recommend it enough. And though, as Henwood reveals, their activity contributes almost nothing to the real economy where goods are made and jobs created, they nevertheless wield enormous power.

The pricing of the stock market sends signals about capital allocation Kinda-sorta, but who listens to them? But on a net basis, in a normal year, equity issuance is negative. I very highly recommend this. In an equally extraordinary act of generosity, Doug has decided to release it to the internet, gratis, under a Creative Commons Licence. Views Read Edit View history.

However, it gives a duog view of what wall street is and how it operates. There is also a fairly long Freudian digression which I found completely bizarre and off-putting. DH along with Mason and others argues that this is not really the case, that firms empirically fund most capital investment out of internal funds, and that stock markets mainly serve as a source of liquidity for existing owners of capital.

Wall Street: How It Works and for Whom

Yale University University of Virginia. Of course it does provide funds to corps via IPOs, but as I show in After the New Economy, it does that most intensely when buying the offerings makes the least economic sense.

By using this site, you agree to the Terms of Use and Privacy Policy. On November 11, Henwood announced that he would be retiring Behind the News in its current form; instead broadcasting from another venue and on his website.