As CEO of Intrade, John Delaney harnessed the wisdom of the crowds, with often freakishly prescient results. Technocratic dreamers were ecstatic about the company's ability to predict the future, and maybe even reshape society. Today Delaney's company has collapsed and his body is entombed atop Mount Everest. A tale of bravado, bluster, and efficient markets.
Thanks to decades of stagnant wages and the Great Recession, more than half of American working-class households are at risk of being unable to sustain their standard of living past retirement. Duncan Black is trying to change that.
Meet Dave Ramsey, the most important personal finance guru in America. Millions of people follow his biblically inspired advice. It goes like this: 1. Purge yourself of debt; 2. Live on cash; 3. Pretend economic trends don't affect you; 4. Blame yourself when they do.