I was entranced by the Hayekian story of how markets aggregate and communicate widely dispersed information. I also found it fascinating that markets achieve legitimacy by disguising human choices, sometimes good and sometimes bad, as facts of nature.
I began a serious study of financial markets, first just by reading textbooks, then by going through the CFA curriculum and now grad school…. I was struck by how much real financial markets differed from the kind of markets one would invent (and that people like Robin Hanson do invent) if you took the Hayekian story seriously. Real market institutions seem designed to hide information and shift consequences rather than reveal outcomes and allocate costs and rewards. I quickly shed a libertarian prejudice in favor of what is “emergent” or “natural”, and became a critic of a financial system ill-equipped to serve the purpose to which it is addressed.