Magazine
Latest Issue

From blockchain to the Wall Street crash, the stories we tell about economics have more power than we might think

A new book reveals how the stories we spread about the economy have the power to shape it in real life—for better or worse

By Howard Davies   December 2019

A man sweeps papers from the floor during the 1929 Wall Street crash. Photo: Nationaal Archief / Spaarnestad Photo, SFA001018144

There is an oft-repeated story about the run-up to the Wall Street crash of 1929 in which Joseph Kennedy, JFK’s father, stops to get his shoes cleaned in lower Manhattan, and is shocked to find that the shoeshine boy is offering him tips on which stocks to buy. “If a shoeshine boy can predict where this market is going to go, then it’s no place for a man…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

We want to hear what you think about this article. Submit a letter to letters@prospect-magazine.co.uk

More From Prospect