The dissertation was never written. But in the course of boning up on the theory and history of the U.S. political economy, Henwood got more deeply interested in economic matters and less so in literary ones, supplementing a decent base of undergraduate training with extensive self-teaching. He founded Left Business Observer in September 1986. Almost from the first issue, the newsletter was a critical success , and, though the publication more than pays its bills, a vast cascade of subscriptions would always be welcome. LBO covers economics and politics in the broadest sense.
Every issue includes a report on the world's financial markets and central banks.
His book Wall Street was published by Verso in June 1997.