Every piece in Issue 01
Each piece on its own page. The whole issue also reads as the magazine, and there is a PDF.
Opening
04How to read this issueFour kinds of claim and one rule about machines.Front of book05One Second07:24:04 UTC, frozen before anything was written.The deviceAct I · The Number
09What Is a Price?One second, five venues, no single answer.Cover story17The Price That Never TradedSome of the most important prices are ones nobody paid.Essay23Below ZeroThe afternoon a barrel of oil cost minus $37.63.Case27Who Owns the Number?LIBOR, SOFR, gold, indices and oracles: who writes the rules.Report34What was left on the floorArchive 0136A Price Is Just the PriceThe practitioner's case against this issue.Dissent 01Act II · The Market
38You Changed the PriceWhat it costs to spend a million dollars.Essay43Somebody Placed the OrderThe largest print in our second, reconstructed.Experiment 0147One Thing. Many Prices.A dozen correct prices for one ounce of gold.Essay52The Day the Market Cancelled ItselfLME nickel, 8 March 2022, in strict order.Forensic case57Liquidity Is Invisible Until It Isn'tSame price, different market, one second apart.EssayAct III · The World
62The Price Has a BodyBefore it became a ticker, it was heavy.Essay67A Ship in a DitchGeography inside prices, from Suez to Hormuz.Report73What Waiting CostsWhy $100 in 2036 is not $100.Essay78The Dollar Inside EverythingMonetary plumbing, without conspiracy or obituary.Essay84A price made with handsArchive 02Act IV · The Human
87We Asked for a PriceNine price services, one second, nine numbers.Experiment 0290Somebody Knows SomethingWhy a chart feels like a message, and what that costs.Essay95The Price of a LifeWhat the value of a statistical life is, and is not.Essay99The Last TradeA price that stays on the screen after it stops meaning anything.Essay102Markets Know More Than Stories DoThe defence of the market price.Dissent 02Closer
109This Page Is Already Wrong.Everything in this issue happened inside one second. The price did not wait for us.Living