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Beyond Macro-Prudential Regulation: Three Ways Of Thinking About Financial Crisis, Regulation And Reform, Tamara Lothian
Beyond Macro-Prudential Regulation: Three Ways Of Thinking About Financial Crisis, Regulation And Reform, Tamara Lothian
Tamara Lothian
This paper considers the debate about the "macro-prudential regulation" of finance in the context of a broader view of the relation of finance to the real economy. Five ideas are central to the argument. The first idea is that the two dominant families of ideas about finance and its regulation share a failure of institutional imagination. Neoclassical economists blame localized market and regulatory failures for the troubles of finance. Keynesians invoke the way in which the money economy may amplify cycles of despondency and euphoria. Neither current of thought recognizes that the institutions of finance in particular, and of the …
Globalization In Comparative Perspective: A New Approach To Comparative Law And Legal Thought, Tamara Lothian, Katharina Pistor
Globalization In Comparative Perspective: A New Approach To Comparative Law And Legal Thought, Tamara Lothian, Katharina Pistor
Tamara Lothian
No abstract provided.