Paternalism and Liberty in the Market: Not quite a Naïf, Not quite a Con Man

David Ress ()
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David Ress: University of New England

Chapter Chapter 10 in The Kansas Blue Sky Act of 1911, 2023, pp 139-149 from Springer

Abstract: Abstract The New Deal’s securities regulation did not follow Dolley’s Kansas Blue Sky model, despite Franklin Roosevelt’s early hints that it might. Ultimately, the Blue Sky Act reflected a vanished view of investment and of neighborly buying and selling in small, self-contained economies, such as the one Kansas Banking Commissioner Joseph N. Dolley had operated in as a credit-granting grocer and banker. Ultimately, too, the initial acceptance and later rejection of the Kansas model reflects a shift in American attitudes about the opposition of paternalism and liberty.

Keywords: Securities Act of 1933; Blue Sky law; Investor protection; Mutual funds (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-43831-8_10

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DOI: 10.1007/978-3-031-43831-8_10

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