Market Rules

The financial crisis of 2007–08 gave everyone a crash course on how incredibly complicated the world of global finance has become. Financial products many people had never heard of were suddenly causing the entire system to teeter terrifyingly on the brink of -collapse.

The world survived that battering, although six years later many economies are still nursing their wounds and some remain too weak to get off the floor.

Why this is so and what can be done about it is the subject of Transnational Financial Regulation after the Crisis, a collection of essays by international political economy scholars, edited by McMaster University’s Tony Porter, that delves deep into the growing intricacy of financial markets and the equally complex system of trying to regulate them across borders. The question those contributors attempt to answer, with some limited success, is whether national and international regulators are doing enough to prevent another shock...