This is an illuminating and essential critique of why financial services have been regulated for centuries far more heavily than most products, where Emory finance and economics scholar George Benston examines the costly, consumer-unfriendly state of financial markets regulation, and makes the case for deregulation, higher capital requirements, deposit insurance reform, and practical proposals that protect taxpayers, consumers, and banks, insurers, and other financial firms alike.


This study explains why financial services have for centuries been regulated to a greater extent than are most products that do not directly affect people's health or safety.