Normative Assessment of Stock Market Regulation (From Values in the Marketplace: The American Stock Market Under Federal Securities Law, P 137-151, 1988, James Burk -- See NCJ-119382)

• NCJ Number: 119387
• Author(s): J Burk
• Date Published: 1988
• Length: 15 pages
• Sale Source: Walter de Gruyter & Co
• Publication Type: Report (Study/Research)
• Language: English
• Country: West Germany (Former)

Annotation

This chapter attempts to provide a normative and theoretical assessment of stock market regulation, with emphasis on intended and unintended results and the link between private interest and public good.

Abstract

The unintended and unforeseen consequences of market regulation are discussed, focusing on the inevitable obfuscations resulting from legislative compromise and the failure to develop collective moral goals within the securities industry. Federal securities regulation, it is concluded, weakened rather than strengthened social control. The prospects for regulating markets in a democratic society are discussed in detail. Special attention is given to potential regulation of international markets, which require an awareness of a great diversity of interests. While regulation is an imperfect enterprise, more attention should be given to monitoring and correcting unintended and negative effects on institutional development. 20 footnotes.