Wall Street

 Excerpt  :

Figuring that out has to start with a picture of the elements of this financial universe — the instruments and institutions that construct the claims that people make on each other over time and space. These claims are denominated in money, the stuff that economists study, but economists forget that money is a form of social power. One of the persistent delusions of conventional theory is that money is “neutral,” a lubricant with no influence of its own, one that mer ely simplifies transactions in an economy based on the exchange of goods.1 In a barter economy, the seller of wheat would have to find a personal buyer; in a money economy, the wheat-holder can sell for money, and let the system take care of the rest.

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