I'm currently watching this video on regulating shadow banking. It is very interesting if you are into finance or acronyms.
One of the panelists has a simple point yet it had never crossed my mind. He argues the regulatory process begins in favor of the financiers; in order to regulate an innovation or instrument, the regulators must prove why it warrants regulation (think derivative markets). He advocates for a reconceptualization of regulation where any innovation or instrument is proven to be socially beneficial before it is even allowed to exist.
Also: Jerry Epstein and Jim Crotty explore the social benefits of finance here.
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