Listen to the Audio Mises Wire version of this article.

In late January and early February, protestors took to the streets of lower Manhattan to “re-occupy Wall Street.” Protestors were there to draw attention to the efforts by Wall Street elites to use their political influence with Congress and the SEC (Securities and Exchange Commission) to crush the traders—many of whom had rallied around certain groups within Reddit—who had embarrassed hedge funders and cost them billions through the now infamous GameStop short squeeze.

Raghuram Rajan has written a surprising book. Now teaching finance at the University of Chicago, he is an international bureaucrat in good standing, and not a minor one at that; he was chief economist of the International Monetary Fund. Yet far from calling for an increase in “global governance,” as one might expect from someone with his background, he wants to strengthen the local, “proximate,” community.

James Grant is editor of Grant’s Interest Rate Observer, which he founded in 1983. He is the author of nine books, including Money of the Mind, The Trouble with Prosperity, John Adams: Party of One, The Forgotten Depression, and more recently Bagehot: The Life and Times of the Greatest Victorian. In 2015 Grant received the prestigious Gerald Loeb Lifetime Achievement Award for excellence in business journalism. James Grant is an associated scholar of the Mises Institute.

Listen to the Audio Mises Wire version of this article.