Who could ever have foreseen a world in which online networks disrupt established hierarchies? wsj.com/articles/games…
Well, it was one of the central themes of The Square and the Tower: barnesandnoble.com/w/the-square-a…
One of many relevant episodes in the book describes how, in 1992, a network of speculators attacked the Bank of England with a huge short sterling trade. The leader of the network was of course George Soros. 
What goes around comes around. Today the Reddit day-traders are the network and a bunch of hedge funds are the target. That's because, as often happens, yesterday's insurgents in the "square" are today's establishment in the tower.
The other issue of the week is the relationship between monetary policy and asset bubbles. If the Fed commits itself to near-free money for the indefinite future, bubbles are inevitable. Readers of The Ascent of Money will recall John Law's role in the original stock bubbles.
Much more here: barnesandnoble.com/w/the-ascent-o…
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