The SEC and Capital Market Regulation: The Politics of Expertise. (book reviews)

The study of regulatory policy, like most fields in political science, is subject to intellectual trends. For decades, many scholars accepted the proposition that regulatory agencies were inept, rigid, and captured by the very interests they were charged to regulate. More recently, many policy analysts have embraced the political control thesis.

Employing principal-agent models and the assumptions of rational choice theory, many now argue that the political control of regulatory agencies by Congress or the president is both effective and efficient. Khademian's SEC and Capital Market ...

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