The New York Times published a long, redundant, somewhat odd screed from Oren Cass this weekend, bemoaning “financialization” and suggesting that Wall Street has duped everyone, from their investors to their own clients, about what they really do. The wide net of the attack manages to capture exactly no one, and exposes what the anti-market, pro-statism new right fail to grasp about markets. David takes on the piece point by point, and the rebuttal is worth a listen.

Show notes:
Oren Cass NYT piece on financialization
David’s AIER paper on financialization

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