Bubbles, Manias and Market Failures: The Unintended Consequences of Regulatory Responses

Although financial bubbles are in some sense banal and a feature of financial capitalism, the seeds of the next bubble are often sown by regulatory responses to previous ones. This has been the case since the South Sea Bubble and Mississippi Scheme, and has recurred at regular intervals in the intervening 300 years. This lecture explores how regulators try to prevent what will hopefully be the 'last' bubble and suggests that the most effective regulatory frameworks were developed during the normal operation of markets, not in response to crises.A lecture by Professor D'Maris Coffman, Professor of Economics and Finance of the Built Environment, UCL 7 February 2019The transcript and downloadable versions of the lecture are available from the Gresham College website: https://www.gresham.ac.uk/lectures-and-events/bubbles-market-failures-regulatory-responsesGresham College has been giving free public lectures since 1597. This tradition continues today with all of our five or so public lectures a week being made available for free download from our website. There are currently over 2,000 lectures free to access or download from the website.Website: http://www.gresham.ac.uk Twitter: http://twitter.com/GreshamCollege Facebook: https://www.facebook.com/greshamcollege Instagram: http://www.instagram.com/greshamcollege Support the show