Astral Codex Ten

Lying For Money

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Lying For Money

Article

Lying For Money is a recurring book in the Astral Codex Ten archive, appearing 3 times across 3 issues between May 26, 2023 and September 15, 2023. The archive places it in contexts such as “This is the gift that Dan Davies gives us in Lying For Money”; “If Lying For Money ‘s most important idea can be described in a single line”; “While Lying For Money is a great educational resource”. It most often appears alongside Njal’s Saga, On the Marble Cliffs, Public Citizens.

Metadata

  • Category: Books
  • Mention count: 3
  • Issue count: 3
  • First seen: May 26, 2023
  • Last seen: September 15, 2023

Appears In

Source Context

Recovered passages from the original issue text. When the raw archive preserved outbound links inside the source passage, they are listed directly under the quote.

Your Book Review: Lying for Money
May 26, 2023 · Original source
This is the gift that Dan Davies gives us in Lying For Money. Despite taking econ classes in college, and spending years as a business owner who has had to do things like raise money from investors, my understanding of how the modern economy operates often feels about as complete as a caveman's understanding of how a cruise ship floats. The book delivers on the promise implied by its subtitle, How Legendary Frauds Reveal the Workings of Our World. Financial instruments (and other aspects of the economy) are things that are best understood in the breach: in the process of teaching us the various ways in which financial systems can break, Davies also teaches us how they work.
If Lying For Money's most important idea can be described in a single line, it's that fraud is an equilibrium phenomenon – or, as Davies likes to put it, "It is highly unlikely that the optimal level of fraud is zero."
While Lying For Money is a great educational resource that improved my understanding of several parts of the economy, much of the value of the book comes from the sheer entertainment value of reading about famous, infamous, and not-so-famous frauds and capers. (Oftentimes, the not-so-famous stories are the most entertaining: one might imagine that when Dan Davies was selling the proposal, any book promising to cover "legendary frauds" had to include Bernie Madoff and Enron. The other, less-known anecdotes can be plucked out and included because they are interesting, rather than because Davies and his publisher felt a sense of obligation to include them.)
Vote In The 2023 Book Review Contest
September 08, 2023 · Original source
1: Cities And The Wealth Of Nations / The Question Of Separatism 2: Lying For Money 3: Why Machines Will Never Rule The World 4: Man’s Search For Meaning 5: Njal’s Saga 6: Public Citizens 7: Safe Enough? 8: Secret Government 9: The Educated Mind 10: The Laws Of Trading 11: On The Marble Cliffs 12: The Rise And Fall Of The Third Reich 13: The WEIRDest People In The World 14: The Mind Of A Bee 15: Why Nations Fail 16: Zuozhuan
Inline links: Cities And The Wealth Of Nations / The Question Of Separatism, Lying For Money, Why Machines Will Never Rule The World, Man’s Search For Meaning, Njal’s Saga, Public Citizens, Safe Enough?, Secret Government, The Educated Mind, The Laws Of Trading, On The Marble Cliffs, The Rise And Fall Of The Third Reich, The WEIRDest People In The World, The Mind Of A Bee, Why Nations Fail, Zuozhuan
Book Review Contest 2023 Winners
September 15, 2023 · Original source
Lying for Money, reviewed by Kuiper. He's a video game scriptwriter who just launched a Substack. He also scripwrites edutainment YouTube videos for an audience of millions. (You can contact him if you need his expertise.)
Inline links: Lying for Money, Substack, edutainment YouTube videos