If you ask people where [financial] risk will flow, there are two camps. One says risk will flow to the smartest person, the person who best understands it; and the other [camp] says risk will flow to the dumbest person, the person who least understands it. And at least based on my experience and my understanding of what has been happening in the derivatives market, it’s the latter.
—Frank Partnoy. “Money, Power & Wall Street. Frontline. PBS.
- Great ammunition for public choice economists
- Born to be, or not to be, religious
- Subliminal Messages
- Other People's Money
- Stoic Wisdom
- Bailey's DNA
- Stoic Wisdom: Epictetus on Envy
- What caused the financial crisis?
- Ethical Meat: An Essay
- Resources for Personal Finance
- Bailey Explains the Great Recession
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