Michael Lewis, who made a considerable splash in 1989 with Liar's Poker, his memoir of a couple of years with Salomon Brothers as a bond salesman, has collected between hard covers what he has been doing since then: financial journalism for the likes of Manhattan, inc. and The New Republic, among others.

In The Money Culture (Norton, 282 pp., $19.95), Mr. Lewis displays all the virtues that made Liar's Poker a bestseller. He is literate, with a background in art history, rather than business. He writes very clearly and explicitly about matters that are otherwise pretty murky for most readers. And he writes with a great deal of mordant wit.

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