Essays

Adapting the Efficient Market Hypothesis

Theories of efficient markets mislead because they seek to explain market behaviour according to the laws of physics rather than biology, says Adaptive Market Hypothesis proponent Andrew Lo

Trillions: a history of the rise and rise of passive investment

A new book by Financial Times journalist Robin Wigglesworth surveys the history of index funds and considers their increasingly significant implications for the global economy

10 1/2 Notes on Beating the Market: a review

I review a brief but sharp polemic by hedge fund manager Paul Marshall on the possibility of beating the market

In Pursuit of the Perfect Portfolio: a review

A new book by Andrew W Lo and Stephen R Foerster profiling key figures in the development of modern portfolio theory offers a fresh perspective on the active versus passive debate

Investing to Save the Planet: a review of a new guide to the world of green finance

My review of a new book on green investment by Financial Times journalist Alice Ross, written for the Go Invest Green pensions project I’ve been working on this year.

Everyday geoengineering: five climate change innovations from Kim Stanley Robinson’s The Ministry for the Future

From the return of the airship to a new age of solar-powered sail Robinson’s latest climate fiction previews the technologies we may – before too much longer – be using in the real world.

Seeking space and light: a review of Kate Soper’s Post-Growth Living

My review of a new book arguing that the case for moving to a sustainable economic model should use the language of desire rather than sacrifice

Learning Ursula Le Guin’s Pravic: can we think without language?

What comes first, thought or language? Some notes on the philosophy of language with reference to Le Guin’s great science fiction novel The Dispossessed.

The polluters pay — including us: a programme for getting to Net Zero

Dieter Helm’s latest energy transition manifesto puts a carbon tax at the centre of a programme for navigating the path to a carbon-neutral economy