We dig into Chapter 3 – Theory and Practice – and look at how, in the 1960s and 1970s, theories of finance like random-walk hypothesis and efficient market hypothesis, started leaking out of the university and having real world effects in professional financial practice. Combined with market restructuring caused by the rapid growth of institutional investors in the American economy, these financial theories directly influence the creation of things like index funds, which go on to set financial markets on a totally new pathway.

Here’s a free pdf of the book: https://uberty.org/wp-content/uploads/2015/02/MacKenzie-An-Engine-Not-a-Camera.pdf

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Hosted by Jathan Sadowski (www.twitter.com/jathansadowski) and Edward Ongweso Jr. (www.twitter.com/bigblackjacobin). Production / Music by Jereme Brown (www.twitter.com/braunestahl)

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