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The False Promise Of De-Regulation In Banking, Jonathan R. Macey
The False Promise Of De-Regulation In Banking, Jonathan R. Macey
ExpressO
Jonathan R. Macey
The False Promise of De-Regulation in Banking
Abstract
This Article presents new approach to the concept of "deregulation" in financial services and particularly banking. Generally regulatory policy is thought to involve more or less straightforward choices between regulation and deregulation. Those most concerned with market failure and equality of outcomes favoring regulation and those with faith in markets and concerns about efficient outcomes favoring deregulation.
This Article shows that government regulation, sometimes in heavy doses, is necessary in order for private markets to function effectively. Consequently, government has in important role to play in fostering markets. The …