Market Failure and the Economic Case for a Mandatory Disclosure System

Authors

John C. Coffee Jr., Columbia Law SchoolFollow

Document Type

Article

Publication Date

1984

Abstract

Recent academic commentary on the securities laws has much in common with the battles fought in historiography over the origins of the First World War. The same progression of phases is evident. First, there is an orthodox school, which tends to see historical events largely as a moral drama of good against evil. Next come the revisionists, debunking all and explaining that the good guys were actually the bad. Eventually, a new wave of more professional, craftsmanlike scholars arrives on the scene to correct the gross overstatements of the revisionists and produce a more balanced, if problematic, assessment.

Disciplines

Law | Law and Economics | Securities Law

Comments

Copyright is owned by the Virginia Law Review Association and this article is used by permission of the Virginia Law Review Association.

Recommended Citation

John C. Coffee Jr., Market Failure and the Economic Case for a Mandatory Disclosure System, 70 Va. L. Rev. 717 (1984).
Available at: https://scholarship.law.columbia.edu/faculty_scholarship/536