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Though much of the rhetoric sounds ridiculous today, few analysts have explored how the New Economy moment emerged from deep within America's economic and ideological machinery—instead, they've preferred to treat it as an episode of mass delusion.  Now, with customary irreverence and acuity, journalist Doug Henwood dissects the New Economy, arguing that the delirious optimism was actually a manic set of variations on ancient themes, all promoted from the highest of places. Claims of New Eras have plenty of historical precedents; in this latest act, our modern mythmakers held that technology would overturn hierarchies, democratizing information and finance and leading inexorably to a virtual social revolution. But, as Henwood vividly demonstrates, the gap between rich and poor has never been so wide, wealth never so concentrated. 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Norman Pearlstine, then executive editor of the Wall Street Journal, lamented, 'You are scum ... it's tragic that you exist.' With compelling clarity, Henwood dissects the world's greatest financial center, laying open the intricacies of how, and for whom, the market works. The Wall Street which emerges is not a pretty sight. Hidden from public view, the markets are poorly regulated, badly managed, chronically myopic and often corrupt. And though, as Henwood reveals, their activity contributes almost nothing to the real economy where goods are made and jobs created, they nevertheless wield enormous power. 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