Freeman

IN BRIEF

Obama Points to JP Morgan in Support of Regulation

MAY 15, 2012

“The spectacular $2 billion loss by JP Morgan shows why President Obama’s overhaul of financial regulations was needed, the White House says.” (USA Today)

Actually, it shows what’s wrong with government regulation.

FEE Timely Classic
“Banking Without Regulation” by Lawrence H. White

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For centuries, hierarchical models dominated human organizations. Kings, warlords, and emperors could rally groups--but also oppress them. Non-hierarchical forms of organization, though, are increasingly defining our lives. It's no secret how this has benefited out social lives, including dating, and it's becoming more commonplace even in the corporate world. But it's also now come even to organizations bent on domination rather than human flourishing, as the Islamic State shows. If even destructive groups rely on this form of entrepreneurial organization, then hierarchy's time could truly be coming to an end.
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