Who Governs? - Legislatures, Bureaucracies, or Markets? (Hardcover, 1st ed. 2020)

When we start to perceive that there is a problem in the market (such as monopoly, fraud or speculation), the legislature passes a law to correct it, a bureaucracy is created to interpret and enforce the new law, firms and other market participants comply, and the problem is solved. But is it? Are politicians' promises and textbooks' stories to be believed? This book examines US economic history to demonstrate how the applications of laws are uncertain, affected by changing political and economic conditions as well as by legislators' perceptions and the ability or willingness of bureaucracies to enforce laws. The two cases developed in this book revolve around William McChesney Martin, Jr., who helped apply (i) the 1930s Securities Acts as president of the New York Stock Exchange and (ii) the Federal Reserve Act in the Keynesian era unforeseen by that Act. As chairman of the New York Stock Exchange, Martin served as private regulator of firms listed on the Exchange-itself a publicly regulated entity. As chairman of the Federal Reserve, he then served as a public regulator. This book thus offers an innovative approach to understanding and examining the various issues and incentives facing each of the three parties: regulated, private regulator, and public regulator.

General

Imprint:	Springer Nature Switzerland AG
Country of origin:	Switzerland
Series:	Palgrave Studies in American Economic History
Release date:	2020
First published:	2020
Authors:	John H. Wood
Dimensions:	210 x 148mm (L x W)
Format:	Hardcover
Pages:	274
Edition:	1st ed. 2020
ISBN-13:	978-3-03-033082-8
Categories:	Books > Business & Economics > Economics > Political economy Books > Humanities > History > History of specific subjects > Economic history Books > Business & Economics > Finance & accounting > Finance > General Books > History > History of specific subjects > Economic history Books > Money & Finance > General
LSN:	3-03-033082-6
Barcode:	9783030330828

Is the information for this product incomplete, wrong or inappropriate? Let us know about it.

Does this product have an incorrect or missing image? Send us a new image.

Is this product missing categories? Add more categories.

Review This Product

No reviews yet - be the first to create one!