Trust and reputation are central to the operation of capital markets. But in our generation, reputational mechanisms are failing; and when they fail, markets and societies are also at risk of failure. The usual response has been to call for more aggressive regulation, yet this only worsens the problem, as Jonathan Macey shows in his new book. There, he demonstrates how and why poorly considered regulation has undermined traditional trust mechanisms throughout financial institutions, credit rating agencies, and accounting and law firms. Please join us for a discussion of these issues, including a better path to restoring trust and integrity.
Featuring the author Betty Medsger; with comments by Julian Sanchez, Research fellow, Cato Institute; moderated by Gene Healy, Vice president, Cato Institute.
- Legal Briefs
- Cato Handbook for Policymakers
- Cato Journal
- Cato's Letter
- Cato's Letters
- Cato Papers on Public Policy
- Cato Policy Report
- Cato State Legislative Guide
- Cracking the Books
- Economic Freedom of the States of India
- Economic Freedom of the World
- Public Comments
- Supreme Court Review
In this issue of the Cato Journal, economists Geoffrey Black, D. Allen Dalton, Samia Islam, and Aaron Batteen offer one prominent example of allowing the market to work. Also in this issue, economists Jason E. Taylor and Jerry L. Taylor reexamine the relationship between marginal tax rates and U.S. growth, and Robert Krol looks at bias in CBO and OMB economic forecasts.
Latest Blog Post
A 1996 ruling has let the administrative branch run amock, changing the rules of the game without new legislation or congressional/judicial oversight.
The 2008-2009 financial crisis and Great Recession have vastly increased the power and scope of the Federal Reserve, and radically changed the financial landscape. This new ebook examines those changes and considers how the links between money, markets, and government may evolve in the future.