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NCJ Number: 119383 Find in a Library
Title: Markets, Moral Order, and Regulation (From Values in the Marketplace: The American Stock Market Under Federal Securities Law, P 3-19, 1988, James Burk -- See NCJ-119382)
Author(s): J Burk
Date Published: 1988
Page Count: 17
Sponsoring Agency: Walter de Gruyter & Co
1 Berlin 30, Germany United
Sale Source: Walter de Gruyter & Co
Genthiner Str 13
1 Berlin 30,
Germany (Unified)
Type: Report (Study/Research)
Language: English
Country: West Germany (Former)
Annotation: This first chapter discusses the sociology of the stock market from the 1930s through the 1970s, examines the relationship between market regulation and moral order, and outlines the methodology to be used in studying these relationships in the remainder of the work.
Abstract: Federal securities regulation, instituted in the 1930s, has had long-term effects on the stock market. The long-term effects of regulation and their impact on market organization are studied in detail. While some claim that markets create their own moral order from the transactions of market participants, others argue that markets cannot create their own order, but reflect the moral order of the larger society in which the market is found. The author argues that while larger social forces act as a constraint on the market's creation of its own moral order, the market can and does create its own internal institutional moral order. Often, groups use the regulation of markets to pursue their own special interests, not recognizing that the actual consequences of regulation may be undesirable. 34 footnotes.
Main Term(s): Federal regulations
Index Term(s): Securities and Exchange Commission; Sociological analyses
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