Top critical review
Good Book, but missed the role of Theory of Mind in markets
22 August 2018
Its a good book, but with a fundamental flaw. In discussion on the insights of Smith into Moral Sentiments and how that applies to The Wealth of Nation, the basic flaw is that the role of Theory of Mind is missing. It makes you want to scream at the author, that he makes pages of analysis related to how moral sentiment works, when he just has to say by Theory of Mind. It such a flaw it really ruins the book, which would then be able to predict better the moral role of humans in markets. It also misses the point, that if market slip in to the hands of AI, that don't exploit theory of mind, then humans won't trust the market. This is a situation we already see in key markets such as Oil and other energy markets where the algorithmic trading is creating a lot of instability and thus reduces effective investment in the primary market. Which is what the author also predicts but it takes a chapter to get to.