Section 90(1) of the UK Financial Services Act 2012 criminalises the creation of a false or misleading impression in financial markets. Notwithstanding the fact that section 90 does not reference high frequency trading, the statutory language is sufficiently broad to capture high frequency trading strategies where it can be shown that they have created a false or misleading impression as to the price or value of the company share which has been, or is being, traded.
This essay proposes a novel reading of Keynes’ General Theory, tracing its intellectual roots back to nineteenth century physics in order to understand the complex relationship between individuals and macroeconomics’ aggregate quantities. In his General Theory of Employment, Interest, and Money, Keynes argues that the economy as a whole has its own organic existence, irreducible to the individual agents making decisions within it.
This paper develops a new microeconomic model of corporate criminal liability and shows how the Too Big To Jail problem reduces the deterrence effect of a crime control policy relying primarily on large corporate fines. In the presence of Too Big To Jail firms, prosecutors should shift resources toward prosecutions of individual managers, so they bear a substantial personal risk from dealing dishonestly.
In the wake of the Occupy Wall Street protests, I wrote an appendix to n+1’s The Trouble Is The Banks, cataloging the major malfeasance committed by the banks, as revealed in the legal settlements to date.
The UK Parliament’s Marshall Scholarship scheme funds American graduates to live and study in Great Britain. With the support of the Marshall Scholarship, I moved to London’s Goodenough College in September 2013 and took up an MSc Economic Policy course at University College London.
Complex interactions are impossible to fully enumerate beforehand, so it is dangerous to try reducing one’s uncertainty by “hedging” the risk of one action by taking on another speculative bet, which a risk calculation says is in the “other” direction.
My Brown University honors thesis was an epistemological study of scientific revolution, using Kuhn, Althusser, and Foucault. The thesis is structured around a close reading of Einstein’s 1905 papers, which broke with the mechanical view of classical physics.
When we think about the uncertain future through the lens of risk management, we misunderstand the meaning of probability. In short, we treat the real world too much like a game of chance, and in doing so, we make three big mistakes: we try to play the odds, we think of the parts but forget the whole, and we think we know just how bad things can get.
For the dissertation component of UCL’s MSc Economic Policy course, I researched how the existence of Too Big To Jail banks changes the microeconomics of financial crime prosecution. By modeling prosecutorial discretion in charging corporations versus their mangers, the dissertation showed that unless managers face a credible threat of incarceration for criminal behavior, authorities will be unable to optimally deter financial criminality by and within financial institutions.
One of my two majors at Brown University was an independent concentration I designed, called Modern Critical Philosophy. It focused on continental philosophy, while drawing from courses in analytic philosophy, gender studies, political economy, and Africana studies.
“The Indy” is a weekly paper produced by a team of Brown and RISD students covering Providence, RI. In addition to writing articles, I worked as the science section editor and was the founding editor of the food section.