Regulatory Change in an Atmosphere of Crisis

Regulatory Change in an Atmosphere of Crisis: Current Implications of the Roosevelt Years is a collection of papers presented at a conference on Regulatory Change in an Atmosphere of Crisis: The Current-Day Implications of the Roosevelt Years, held in April 1978, at Washington State University. The book presents the findings on several of the major economic reforms of the Roosevelt years and assesses their implications. The text discusses a variety of issues of the period such as the short term measures implemented during the crisis of the 1930s; the Roosevelt New Deal and its consequences; banking reforms in the 1930s; and the social welfare programs that originated in the Roosevelt years. Historians, economists, financial experts, and students will find the book a great source of insight and information.

Contents

List of contributors

Preface

Chapter 1 Monetary Crises and Government Reliance in Modern Times

The Great Crisis of the 1930s

Permitting the Great Crisis

The Mandate for Security

Today's Monetary Crisis

Wage and Price Controls: A Political Diversion

Today's Monetary Crisis and the Tax Revolt

Conclusion

References

Chapter 2 The Economic Constitution and the New Deal: Lessons for Late Learners

Constitutional Failure

What Might Have Been

What Was

What Is

Implications for Reform

References

Discussion

Chapter 3 Roots of Regulation: The New Deal

The Entrepreneurial Government Firm

Subsidies and Expenditures

Federal Establishment of Unions

Agency Nonmarket Controls

Social Insurance

Conclusions

References

Discussion

Chapter 4 The Robinson-Patman Act: A New Deal for Small Business

Robinson-Patman as New Deal Legislation

Robinson-Patman Act as Precursor of Regulatory Reform

Economic Analysis and Price Discrimination Policy

A Time for Change

References

Discussion

Chapter 5 Banking Reform in the 1930s

Introduction

The 1933-1935 Reforms

Statistical Behavior of the Money Stock 1919-1976

The Last Twenty Years-The 1933-1935 Reforms in Perspective

Conclusions

References

Discussion

Changes for Commercial and Savings Banks

Changes with Respect to the Federal Reserve System

Summary

References

Chapter 6 On Understanding the Birth and Evolution of the Securities and Exchange Commission: Where Are We in the Theory of Regulation?

Introduction

Theories of Economic Regulation

The Birth of the SEC and the Explanatory Power of Alternative Theories of Regulation

Recent Regulatory Reform by the SEC and the Explanatory Power of Alternative Theories of Regulation

Conclusion

References

Discussion

Chapter 7 Taxes, Transfers, and Income Inequality

Description of Data

The Tax System

Taxes and Transfer

Evaluating Income Inequality

Conclusion

Appendix

References

Discussion

Subject Index