Bringing together the most important articles from leading authors in the field, Professor Geoffrey Miller's new collection, Economics of Securities Law, is an essential resource for students, policymakers and those interested in the history and current status of the subject. The papers included represent fundamental contributions that shaped later thinking, illustrate approaches that have proven durably influential or represent important challenges to conventional views. The collection also explores new approaches, such as behavioural economics, alongside 'Chicago School' papers, comparative analyses and influential works by people involved in the creation of laws governing modern securities markets.

Covering the most important areas of the subject, such as financial crises, the nature of the banking firm and issues in bank regulation, Economics of Financial Law is a comprehensive collection of the papers that have shaped the field of financial law. This original research review by editor Professor Geoffrey Miller provides a thorough and authoritative examination of the material and will prove to be an invaluable resource for academics and practitioners alike.

This thought-provoking book adds a new perspective to the analysis of how regulation should respond to the global financial crisis of 2008 2009. It focuses on the 'private' as opposed to 'public' aspect of regulation, and highlights the works of the public-private dialectic in regulation and enforcement.The expert authors examine what is perhaps the single most important sector in which public and private regulation and enforcement intersect: the arena of banking and global finance. The detailed analysis of these particular areas of finance thus provides a means for investigating aspects of the important topic of private regulation and enforcement in financial markets. A number of pertinent questions are addressed, including: How does private regulation and enforcement enhance or detract from the legitimacy of the process by which these market segments are managed and controlled? How does private regulation and enforcement manifest independence of action and judgment, as compared with public regulation? How does private regulation and enforcement measure up along dimensions of quality, relative to public regulation? and, finally, What forms of accountability characterize private as opposed to public regulation and enforcement? Illustrating the works of the public-private dialectic in regulation and enforcement, this challenging book will prove a fascinating read for academics, scholars and practitioners with an interest in regulation and governance issues, and in financial and banking law. Contents: Preface 1. Private Regulation of Internationally Active Financial Services Firms 2. Private Regulation in the Credit Default Swaps Market: The Role of ISDA in the New Regulatory Scenario of CDSs 3. Private Regulation and Enforcement in Microfinance: A Multilayered and Polycentric Puzzle 4. Governing Global Payments Markets: International Payments Forum - A New Actor on the Scene 5. The Legitimacy and Accountability of the IASB as an International Standard Setter 6. The Internal Ratings-based and Advanced Measurement Approaches for Regulatory Capital under the 'Basel Regime' ndex

For this wide-ranging collection, Professor Miller has drawn on the work of the best-known scholars in this field to explore the relationship between economics and law in ancient societies. Topics covered include: the methodology of ancient economic law; the genesis, structure and limitations on liability in ancient law; the law and economics of the family; the economic structure of land law in ancient times; the management of criminal behavior; the regulation of contracts and commercial transactions; economic markets and institutions of ancient times; bankruptcy and risk; and the economics of constitutional and administrative law in ancient legal systems.

The Necessary and Proper Clause is one of the most important parts of the U.S. Constitution. Today this short thirty-nine word paragraph is cited as the legal foundation for much of the modern federal government. Yet constitutional scholars have pronounced its origins and original meaning a mystery. Through three independent lines of research, the authors trace the lineage of the Necessary and Proper Clause to the everyday law of the Founding Era the same law that American founders such as Madison, Hamilton, and Washington applied in their daily lives. Origins of the Necessary and Proper Clause are found in law governing agencies, public administration, and corporations. Moreover, all of those areas were undergirded by common principles of fiduciary responsibility reflecting the Founders' view that a public office is truly a public trust. This explains the choice of language in the clause and provides clues about its meaning. This book thus serves as a reference source for scholars seeking to understand the intellectual foundations of one of the Constitution s most important clauses.

The Necessary and Proper Clause is one of the most important parts of the U.S. Constitution. Today this short thirty-nine word paragraph is cited as the legal foundation for much of the modern federal government. Yet constitutional scholars have pronounced its origins and original meaning a mystery. Through three independent lines of research, the authors trace the lineage of the Necessary and Proper Clause to the everyday law of the Founding Era the same law that American founders such as Madison, Hamilton, and Washington applied in their daily lives. Origins of the Necessary and Proper Clause are found in law governing agencies, public administration, and corporations. Moreover, all of those areas were undergirded by common principles of fiduciary responsibility reflecting the Founders' view that a public office is truly a public trust. This explains the choice of language in the clause and provides clues about its meaning. This book thus serves as a reference source for scholars seeking to understand the intellectual foundations of one of the Constitution s most important clauses.