WHITHER CONSUMER PROTECTION IN FINANCIAL MARKETS? LESSONS FROM THE FINANCIAL CRISIS OF 1857

Benedikt Koehler

Economic Affairs, 2010, vol. 30, issue 1, 97-100

Abstract: Consumer protection regulation has not prevented a collapse of trust in financial markets. Theories underlying regulatory intervention require review. In the financial crisis of 1857, firms rather than public authorities restored consumer confidence. Future regulatory regimes may permit greater scope for market‐based design of consumer protection measures.

Date: 2010
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https://doi.org/10.1111/j.1468-0270.2009.01983.x

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