Bank Failures, The Great Depression, and Other “Contagious” Events

2019 ◽  
pp. 909-927
Author(s):  
Charles W. Calomiris
Keyword(s):  
Public Policy ◽  
Great Depression ◽  
Deposit Insurance ◽  
Policy Implications ◽  
Bank Failures ◽  
Historical Evidence ◽  
Lender Of Last Resort ◽  
Safety Nets ◽  
The Public ◽  
The Great Depression

Deposit withdrawal pressures on banks, which sometimes take the form of sudden runs, have figured prominently in the discussion of public policy toward banks and the construction of safety nets such as deposit insurance and the lender of last resort. This chapter examines historical evidence from the Great Depression, and other episodes, on the factors that prompted withdrawals, the discussion of contagious runs, and the public policy implications. The historical evidence is presented in detail and is connected to the debate over the proper roles of deposit market discipline via the threat of withdrawals, the insurance of deposits, and lender-of-last-resort support for banks facing withdrawal pressures.

The Siting Dilemma

2018 ◽  
pp. 35-57
Author(s):  
Lance Freeman
Keyword(s):  
Public Policy ◽  
African American ◽  
Public Housing ◽  
Housing Policy ◽  
Great Depression ◽  
Affordable Housing ◽  
Housing Program ◽  
Housing Assistance ◽  
The Public ◽  
The Great Depression

From the Great Depression until the 1970s, project-based housing assistance, in the form of the Public Housing Program, was planned and developed in a way that reinforced existing patterns of residential segregation by race. As the victims of public policy that promoted segregation, African Americans decried the way that public housing was used to expand and maintain the ghetto. The dire and persistent need for decent affordable housing and the concomitant resources that develop and maintain such housing, however, have complicated the African American response to segregated affordable housing. This complex and multifaceted stance toward segregated affordable housing has had implications for affordable housing policy from the Public Housing Program through the Low-Income Housing Tax Credit. This chapter chronicles the African American response and considers the implications of this response for past, present, and future public policy.

Financial Crises and the Public Discourse on Financial Elites

2018 ◽  
Author(s):  
Youssef Cassis ◽  
Giuseppe Telesca
Keyword(s):  
Great Depression ◽  
Great Recession ◽  
Public Discourse ◽  
Codes Of Conduct ◽  
The Public ◽  
The Great Recession ◽  
The Great Depression ◽  
Early Twenty ◽  
Before And After ◽  
Late Twentieth

Why were elite bankers and financiers demoted from ‘masters’ to ‘servants’ of society after the Great Depression, a crisis to which they contributed only marginally? Why do they seem to have got away with the recent crisis, in spite of their palpable responsibilities in triggering the Great Recession? This chapter provides an analysis of the differences between the bankers of the Great Depression and their colleagues of the late twentieth/early twenty-first century—regarding their position within, and attitude towards the firm, work culture, mental models, and codes of conduct—complemented with a scrutiny of the public discourse on bankers and financiers before and after the two crises. The authors argue that the (relative) mildness of the Great Recession, compared to the Great Depression, has contributed to preserve elite bankers’ and financiers’ status, income, wealth, and influence. Yet, the long-term consequences of their loss of reputational capital are difficult to assess.

Aging Ethnicity, and the Public: Policy Implications

1985 ◽  
Vol 4 (1) ◽  
pp. 1-5
Author(s):  
Peter Kong-ming New ◽  
J. Neil Henderson ◽  
Deborah K. Padgett
Keyword(s):  
Public Policy ◽  
Policy Implications ◽  
The Public

Legal and Public Policy Implications for the Future of Comparative Advertising: A Look at U-Haul v. Jartran

1989 ◽  
Vol 8 (1) ◽  
pp. 124-142 ◽  
Author(s):  
Caryn L. Beck-Dudley ◽  
Terrell G. Williams
Keyword(s):  
Public Policy ◽  
Legal Theory ◽  
Policy Implications ◽  
Comparative Advertising ◽  
The Public ◽  
Industry Regulation ◽  
Trademark Infringement ◽  
Private Action ◽  
Lanham Act ◽  
Legal Fees

This article investigates the regulatory environment for comparative advertising in terms of industry regulation, government regulatory agencies, and private court actions under state law and the federal Lanham Act. Major legal issues are trade disparagement and defamation, trademark infringement and dilution, and deception. The Lanham Act offers protection and redress for parties injured by false, misleading or unfair comparative advertising. Legal theory for application of Lanham to comparative advertising is detailed and implications of the U-Haul vs. Jartran case, where Lanham was applied with U-Haul's being awarded more than forty million dollars in damages and legal fees, are discussed. Several public policy issues are raised including whether the FTC's private action policy serves the public interest given legal risks and costs of defending law suits.

scholarly journals The euro and the recent European crisis vis-à-vis the gold standard and the great depression: institutionalities, specificities and interfaces

2017 ◽  
Vol 37 (1) ◽  
pp. 147-166 ◽  
Author(s):  
GIULIANO CONTENTO DE OLIVEIRA ◽  
PAULO JOSÉ WHITAKER WOLF
Keyword(s):  
Great Depression ◽  
Gold Standard ◽  
Institutional Arrangements ◽  
European Countries ◽  
Lender Of Last Resort ◽  
Central European ◽  
The Past ◽  
The Great Depression ◽  
European Crisis ◽  
Harmful Effects

ABSTRACT The paper aims to establish interfaces between the Great Depression of the 1930s under the Gold Standard and the recent European Crisis under the Euro. It is argued that, despite their specificities, both crises revealed the potentially harmful effects, in economic and social terms, of institutional arrangements that considerably reduce the autonomy of monetary, fiscal and exchange rate policies of participating countries, without being accompanied by increased cooperation between them, which should be led by a global (in the case of the Great Depression) or regional (in the case of the European Crisis) hegemonic power, which is not only capable of, but is also willing to act as a buyer and lender of last resort, especially in circumstances characterized by increased uncertainty, the deterioration of the general state of expectations and increased liquidity preference. In fact, central European countries in the past and peripheral European countries nowadays were effectively pushed toward deflationary adjustments in which a reduction of prices and wages was accompanied by a reduction of output and employment levels. Thus, in the absence of the possibility of restoring the autonomy of economic policy, the overcome of the crisis necessarily requires, both before - under the Gold Standard - and nowadays - under the Euro -, joint actions aimed to assure that the responsibility for the adjustment will be equally distributed among all the economies, in order to avoid that some of them benefit at the expense of the others in this process.

Ownership Redirection in Franchised Channels

1992 ◽  
Vol 11 (1) ◽  
pp. 33-44 ◽  
Author(s):  
Rajiv P. Dant ◽  
Patrick J. Kaufmann ◽  
Audhesh K. Paswan
Keyword(s):  
Public Policy ◽  
Empirical Evidence ◽  
Policy Implications ◽  
The Public ◽  
Dual Distribution ◽  
Do So

Since the typical franchise arrangements permit the more powerful franchisors to simultaneously act as suppliers as well as competitors to their franchisees, apprehensions about potential opportunistic behaviors and allegations of antitrust violations are not uncommon. In turn, this unique structuring of franchises with dual distribution has drawn considerable scrutiny from the public policy platform. In particular, the ownership redirection hypothesis—that the powerful franchisors will reacquire the best franchised outlets relegating only the marginal units to franchisees—has received special attention because it verbalizes the worst fears associated with franchising. This paper provides an evaluation of this hypothesis. To do so, we examine (1) the key premises of the hypothesis from the perspectives of a number of related literatures and (2) the available empirical evidence on the hypothesis. Both aspects of the appraisal point to a number of unresolved issues with important public policy implications.

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