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Treadmill of Regulation

In: GLOBAL ECONOMIC TURMOIL AND THE PUBLIC GOOD

Author

Listed:
  • Steven Rosefielde
  • Daniel Quinn Mills

Abstract

Economic crises are difficult to prevent in the west because politocrats prioritize tweeking regulations over fundamental reform. This can be described as a treadmill of regulation where publically touted reform initiatives are merely pretexts for enriching the privileged and furthering their political agendas. The point can be vivified by reviewing the financial and banking “reforms” undertaken in the wake of the 2007–2008 global financial crisis. To many commentators and political officials enhanced banking regulation seems the most significant route toward avoiding future crises. It is not.

Suggested Citation

  • Steven Rosefielde & Daniel Quinn Mills, 2015. "Treadmill of Regulation," World Scientific Book Chapters, in: GLOBAL ECONOMIC TURMOIL AND THE PUBLIC GOOD, chapter 9, pages 107-125, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814590518_0009
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