Democracy and Diversity in Financial Market Regulation

Financial markets have become acknowledged as a source of crisis, and discussion of them has shifted from economics - through legal and regulatory studies - to politics. This book argues that politicising financial market policies - taking discussion of these issues out of the sphere of the 'technical' and putting it into the same democratically contested space as, for example, health and welfare policies - would encourage differing policies to emerge in different countries. The...
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Financial markets have become acknowledged as a source of crisis, and discussion of them has shifted from economics - through legal and regulatory studies - to politics. This book argues that politicising financial market policies - taking discussion of these issues out of the sphere of the 'technical' and putting it into the same democratically contested space as, for example, health and welfare policies - would encourage differing policies to emerge in different countries. The resulting heterogeneity, when viewed from a global perspective, would be a reversal of recent and current tendencies towards one single/global 'level playing field', within which all financial firms and sectors have become closely connected and across which contagion inevitably reigns.