From 1716 to 1845 Scottish banks were among the most dynamic and resilient in Europe, effectively absorbing economic shocks that rocked markets in London and on the continent. Tyler Beck Goodspeed explains the paradox that Scotland’s banking system achieved this success without the regulations Adam Smith considered necessary for economic stability.

From 1716 to 1845 Scottish banks were among the most dynamic and resilient in Europe, effectively absorbing economic shocks that rocked markets in London and on the continent. Tyler Beck Goodspeed explains the paradox that Scotland’s banking system achieved this success without the regulations Adam Smith considered necessary for economic stability.

This book offers a systematic exposition of Aristotle's legal thought and account of the relationship between law and politics.

This book is the first in the world to provide a cross-national, comparative exploration of omnibus legislation. It contributes to the global debate over omnibus legislation and offers comprehensive, thorough and multifaceted coverage that concerns the fields of legislation and legisprudence, comparative law, political science, public policy and economics. Beyond its relevance for these fields, the book will support practitioners in parliaments, governments and courts, thereby impacting the actual use of omnibus legislation. A new, major and controversial reform is enacted in the middle of the night. It is buried in a massive omnibus bill hundreds of pages in length, which is rammed through the legislative process at breakneck speed. The legislators receive the final version of the bill in the very last minute, and protest that they’ve had no opportunity to read it in detail and know what they’re voting upon. The majority party’s legislative leaders, however, are unimpressed, and the law is eventually passed on the basis of strict party discipline. Though it may sound far-fetched, this scenario is all too familiar in many legislatures around the world. The legislative practice of combining numerous unrelated measures in one long bill, which is often passed via a highly expedited process, has become a matter of intense debate and criticism in many countries.

“Mr. Minsky long argued markets were crisis prone. His 'moment' has arrived.” -The Wall Street Journal In his seminal work, Minsky presents his groundbreaking financial theory of investment, one that is startlingly relevant today. He explains why the American economy has experienced periods of debilitating inflation, rising unemployment, and marked slowdowns-and why the economy is now undergoing a credit crisis that he foresaw. Stabilizing an Unstable Economy covers: The natural inclination of complex, capitalist economies toward instability Booms and busts as unavoidable results of high-risk lending practices “Speculative finance” and its effect on investment and asset prices Government's role in bolstering consumption during times of high unemployment The need to increase Federal Reserve oversight of banks Henry Kaufman, president, Henry Kaufman & Company, Inc., places Minsky's prescient ideas in the context of today's financial markets and institutions in a fascinating new preface. Two of Minsky's colleagues, Dimitri B. Papadimitriou, Ph.D. and president, The Levy Economics Institute of Bard College, and L. Randall Wray, Ph.D. and a senior scholar at the Institute, also weigh in on Minsky's present relevance in today's economic scene in a new introduction. A surge of interest in and respect for Hyman Minsky's ideas pervades Wall Street, as top economic thinkers and financial writers have started using the phrase “Minsky moment” to describe America's turbulent economy. There has never been a more appropriate time to read this classic of economic theory.