Doug henwood born december 7, 1952 is an american journalist, economic analyst, author, and financial trader who writes frequently about economic affairs. With compelling clarity, henwood dissects the worlds greatest financial center, laying open the intricacies of how, and for whom, the market. Wall street wall street how it works and for whom doug henwood paperback originally published in 1998 by. Justin fox has a piece on doug henwoods wonderful book, wall street. Doc summary of the book wallstreethow it works and for. The marxist wall street couldnt ignore how did an english doctoral dropout like doug henwood become the first anticapitalist pundit for the cnn crowd. How it works and for whom new edition by henwood, doug isbn.
Backed by the intellectual legitimacy of neoclassical economics and the wealth of the upper classes, the managers of money resolutely cling to beliefs bordering on the absurd. This is the section on the federal reserve from my book wall street. Excerpt from my turn, a critical doug henwood book on hillary clinton. Doug henwood october 15, 2011 on the fed from my book wall street. Wall street from the gilded age to the internet age book. The book is a definitive overview of the financial markets and their economic and political. Doug henwoods engaging book is a razorsharp dissection of the world of high. This was followed in 1997 by wall street verso books, in which henwood described the workings of high finance, and then by after the. In an equally extraordinary act of generosity, doug has decided to release it to the internet, gratis, under a creative commons licence. The state of the usa atlas, wall street and after the new economy. His first, the state of the usa atlas 1994, is a social atlas of the u. Which is what makes doug henwoods book wall street, published that year. The paper will briefly present henwoods explanation of the players, instruments and market models of the u. When the economy looks too strong, wall street demands that the fed tighten in order to slow the economy down to a crawl, writes doug henwood in his book wall street.
But as wall street has grown more democratized and wellbehaved, its economic role has dwindled. His writing has appeared in harpers magazine, grand street, the village voice, newsday. This chapter covers the range of instruments traded on wall street, such as stocks, bonds, derivatives, currencies etc. Its now available for free download on the web, under a creative commons attributionnoncommercialnoderivs license. Hidden from public view, the markets are poorly regulated, badly managed, chronically myopic and often corrupt. Since verso chose not to reprint it when it went out of stock, the rights reverted to the author in march 2005. One of the most striking characteristics of the american financial world is its ideological rigidity. As the title indicates, this book is an introduction to wall street how it works and for whom. Which is what makes doug henwoods book wall street, published that year, such an amazing document. Join facebook to connect with doug henwood and others you may know. Doug henwood with compelling clarity, henwood dissects the worlds greatest financial center, laying open the intricacies of how, and for whom, the market works.
Doug henwood edits left business observer and is the host of behind the news. This book will appeal especially to those who have ever bristled at the thought of insider trading. Published on the web by doug henwood in 2005 under a creative commons license. Facebook gives people the power to share and makes the world more open and connected. In reality, the stock market is a politicaleconomic control mechanism.
Publication date 1998 topics new york stock exchange, wall street, securities industry, stockbrokers. Due to extraordinary shortsightedness, verso books have allowed doug henwoods wall street to go out of print, the rights thus reverting to the author. Doug henwood, editor of the left business observer and author of a new book, wall street, approaches financial markets from the opposite. Doug henwood is the author of three books, after the new economy, wall street, and the state of the usa atlas. As doug henwood points out in his book wall street, most investment capital comes not from financial markets, but from companies internal profits. Doug henwood edits the left business observer, a newsletter he founded in 1986, he also hosts behind the news, a weekly radio show covering economics and politics on kpfa, berkeley, that is rebroadcast on several other stations across the. On the fed from my book wall street lbo news from doug.
To these questions wall street answers an emphatic yes. Wall street was first published in hardcover by verso in 1997, and in paperback in 1998. Thats five times the previous record weekly number, a series that goes back to 1967. Doug henwood is a journalist and financial analyst, who publishes two newsletters, left business observer and together with philippa dunne the liscio report. Its author doug henwood is a notorious scourge of the stock exchange in the pages of his acerbic publication left business observer. The wall street which emerges is not a pretty sight. Doug henwood is the editor of left business observer, a newsletter on economics and politics he founded in 1986, and host of behind the news, a weekly radio show broadcast on kpfa, berkeley. With compelling clarity, henwood dissects the worlds greatest financial center, laying open the intricacies of how, and for whom, the market works. And if it does, can nonspecialists ever hope to understand what the markets are up to. Everyday low prices and free delivery on eligible orders.
Excerpt from my turn, a critical doug henwood book on. These days, its not hard to find people who question the role that financial markets play in our economy, who argue that shareholder value is a flawed metric of corporate success, who say that linking pay to. Doug henwood has a talent, remarkable as it is rare among observers of the financial scene, for making the obscure clear, the complicated simple and the arcane understandable. Democrats are helping republicans unleash wall street. New york, april 1998 textual note almost all the figures in this. Internet blag of the year wall street crooked timber. It may be recirculated freely for noncommercial use only. I recently read the book wall street how it works and for whom by doug henwood. This book can be downloaded for free from its website as the title indicates, this book is an introduction to wall street how it works and for whom. He is the author of a recent book entitled wall street and he reiterated points that he had.
Doug henwood is a contributor for the in these times with four videos in the cspan video library. Henwood talked about several financial theories and their relations to modern day fiscal policy. He is also coowner and coeditor with phillipa dunne of the liscio report, a newsletter focusing on macroeconomic analysis. Doug henwoods engaging book is a razorsharp dissection of the world of high finance. Compared to monthly averages and expressed as a percent of employment, which is how its shown in the graph below, thats over twoandahalf times the previous record. How it works andfur lwiom verso, 1997 and publisher and primary author of the newsletter left business observer. He publishes a newsletter, left business observer, that analyzes economics and politics from a leftwing perspective. Wall street doesnt believe elizabeth warren is serious about medicare for all.
He is a contributing editor at the nation and the author of three previous books. Wall street mavens who hate challenges to their selfserving worldview will not enjoy this book. Lbo news from doug henwood instapunditry on political. His irreverent take on wall street is a provocative challenge to conventional wisdom thats great fun to read. But as doug henwood writes in his book wall street, it does not work like this at all. Go search best sellers gift ideas new releases deals store coupons. Download file pdf wall street how it works and for whom doug henwood wall street how it works and for whom doug henwood how wall street works how the stock exchange works for dummies why are there stocks.