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Paul Woolley: Britain’s new financial guru

By James Crabtree  

Paul Woolley; the new finance guru

Paul Woolley; the new finance guru

This front of this month’s Prospect is adorned by a rampaging ape, smashing through Canary Wharf. But the cover star should really have been Paul Woolley, whose ideas largely inform the cover story, written by our deputy editor Jonathan Ford. The piece details how “Woolley, a former academic, policymaker, IMF economist and fund manager, argues that efficient market theory [the defining academic theory of financial markets] falls down because of an ‘asymmetric information’ problem.” In addition to these…

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