There Is More to It Than the Repeal of Glass-Steagall: Drifting, Micro, and Information-Based Financial Regulation
Scholar in Residence Lecture II
- Datum: 04.06.2024
- Uhrzeit: 16:00 - 17:30
- Vortragende: Bașak Kuș
- Ort: Cologne
- Kontakt: info@mpifg.de
In her lecture series as this year’s MPIfG Scholar in Residence, Bașak Kuș from Wesleyan University will share insights into how governments conceptualize and mitigate risk, and the significant role that economists and economistic reasoning play in shaping these processes – essential analysis for understanding the foundations of the crises that mark our times, from finance to climate, ultimately extending to the crisis of democracy.
The transformation of the American regulatory approach was informed by theories put forward by economists like Stigler, Buchanan, and Niskanen in the 1970s, who problematized regulatory capture, rent-seeking, and bureaucratic inefficiencies, as the first lecture highlights. As the proponents of these theories assumed roles in the highest echelons of American bureaucracy, the government's approach to risk regulation shifted from direct and substantive oversight towards promoting private risk regulation based on market discipline and individual rationality.