The review examines 'Lying for Money' by Dan Davies, which explores various types of financial fraud and their economic implications, discussing main themes and types of white-collar crime. Longer summary

This book review explores 'Lying for Money' by Dan Davies, which examines various types of financial fraud and their implications for the broader economy. The review covers the book's main themes, including the idea that fraud is an equilibrium phenomenon, the importance of trust networks in facilitating fraud, and how complex systems are more vulnerable to exploitation. It discusses the four types of white-collar crime outlined in the book: long firm fraud, counterfeiting, control fraud, and market crimes. The review also highlights the book's insights on how frauds tend to grow over time and the challenges in preventing and prosecuting financial crimes. The reviewer adds their own analysis, particularly on the recent FTX cryptocurrency scandal, which is not covered in the book but fits well with its themes. Shorter summary

Scott analyzes the projected drop in DC's high school graduation rates, exploring various explanations and comparing DC to other states, ultimately suggesting widespread inflation of graduation rates elsewhere. Longer summary

This post discusses the projected drop in high school graduation rates in Washington DC from 73% to 42%. Scott examines possible explanations, including incompetent administration, unique challenges due to demographics, and overcorrection from previous fraud. He analyzes test scores and compares DC to other states, finding that DC's scores, while low, don't justify such a low graduation rate. Scott suggests that many other cities might be using fraud and low standards to inflate their graduation rates, and that DC's projected rate might be an overcorrection that unfairly penalizes students. He hopes DC will find ways to graduate more students to align with national norms. Shorter summary