Not as much as Michael Lewis thinksby John Kay / January 16, 2017 / Leave a comment
Published in February 2017 issue of Prospect Magazine
Michael Lewis is an outstanding writer. All his successful books have a characteristic template: the elucidation of complex subjects through the story of larger-than-life individuals. Lewis’s first book, Liar’s Poker (1989), gave an early insight into the growing influence of financial services, but is most memorable for its portrayal of the grotesque figures who stalked the trading floor of Wall Street investment bank Salomon Brothers. In Moneyball (2003), he described how Oakland Athletics manager Billy Beane transformed baseball by elevating statistical analysis over conventional sporting wisdom. The Big Short (2010) explained a key element of the 2008 financial crisis—the meltdown in the US “sub-prime” housing market—through the actions of a few misfits and nerds who saw through the orthodox analysis.
His new book, The Undoing Project, follows the same model, but with much less success. Its subtitle is “a friendship that changed the…