When managers wish to raise external capital, investors must be able to trust that brokers and managers will not cheat them out of their money. To what extent is government regulation necessary for the existence of advanced financial transactions and, for that matter, the well functioning of...

Alexis de Tocqueville’s work touched upon an exceptionally broad range of social scientific disciplines, from economics to religion, and from education to international affairs. His work consistently appeals to scholars dismayed by existing disciplinary silos. Tocqueville is also well-regarded...