Protecting Small Savers: The Political Economy of Economic Security
Journal of Policy History
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.
Wadhwani, R. D.
Protecting Small Savers: The Political Economy of Economic Security.
Journal of Policy History, 18(1), 126–145.