Monthly Archives: October 2012

Billionaires, Obama, and Redistributive/Reciprocal/Market Exchange

In the Great Transformation and Trade and Market in the Early Empires, Karl Polanyi proposed a typology of exchange: reciprocal, redistributive, and market (as a clear summary among other things, you should read Barber’s “Absolutization of the Market.” It’s quite useful). Reciprocal exchange is gift exchange, and the act of exchange itself brings people into […]

Financial Engineers and Financial Writers

The gap between this video of Michael Lewis talking about writing, and this article by Emanuel Derman talking about working as a financial engineer, is striking. Here’s Lewis: “The minute I get away from the idea that mainly what I’m supposed to be doing is delivering pleasure to a reader is the minute I get […]


The drink, not the borough. Well, sure, the borough too, but mostly the drink. If you are looking to stock a truly lovely Manhattan, here is a list of tools, ingredients, and directions: Tools / Ingredients: – Luxardo Maraschino Cherries: $24 – Tovolo KING CUBE trays: $8.50 – Dolin’s Blanc Vermouth de Chambery: $13 – […]