Title

Protecting Small Savers: The Political Economy of Economic Security

ORCiD

0000-0002-9342-3285

Document Type

Article

Publication Title

Journal of Policy History

ISSN

0898-0306

Volume

18

Issue

1

First Page

126

Last Page

145

Publication Date

1-1-2006

Abstract

The article presents an analysis on the regulation of savings banks in the nineteenth-century U.S. to ensure the economic security of small savers. During the nineteenth century, various governmental institutions including, state legislatures and courts designed an enduring and effective regulatory regime to protect small savers from the risks of the financial market. By crafting and implementing legal rules for savings banks that favored stability over competition and security over high returns, law-makers enshrined the economic security of the household as a paramount policy goal.

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