Flash Boys and the Law of Unintended Consequences

Michael Lewis’s new book Flash Boys is quite rightly generating a lot of attention because it argues that High Frequency Trading is a scam.

I think that Lewis’s story holds an even more important lesson, however, concerning one of the seminal problems of our age: the unintended consequences of technological innovation.

You can read why in my latest Real Money column in the New Statesman.

You can find an archive of my Real Money columns here.