A Viennese Waltz Down Wall Street
A Viennese Waltz Down Wall Street is a tutorial on both economics and investment that sheds new light on both fields. This book weaves the two together to show how you can use good economics to anticipate market turns. But just as importantly, it shows how you can use investing knowledge to understand economics. It takes big ideas in economic theory and illustrates them through real-world examples from financial experience. This book presents applications at every step, even while covering the history of ideas. In most economics texts, micro and macroeconomics are distinct. But in A Viennese Waltz Down Wall Street, they are beautifully integrated with theory and practice.
Consider the opening metaphor of the dance. This is the image that Skousen uses to illustrate the direction of prices in financial markets. It is not random but neither is it entirely scripted. There is a great deal of improvisation and uncertainty. But what makes it all work is that great institution of the mutual benefit of buying and selling. This is what makes markets dance.