About the Subject
From the first stock markets of Amsterdam, London and New York to the billions of electronic commerce transactions today, privately produced and enforced economic regulations are more common, more effective and more promising than commonly considered.

In Private Governance, prominent economist Edward Stringham presents case studies of the various forms of private enforcement, self-governance or self-regulation among private groups or individuals that fill a void that government enforcement cannot. Through analytical narratives the book provides a close examination of the world's first stock markets, key elements of which were unenforceable by law. Private Governance ultimately argues that while potential problems of private governance, such as fraud, are pervasive, so are the solutions it presents, and that much of what is orderly in the economy can be attributed to private groups and individuals. With meticulous research, Stringham demonstrates that private governance is a far more common source of order than most people realize, and that private parties have incentives to devise different mechanisms for eliminating unwanted behavior.

About the Speaker
Edward Stringham is the Davis Professor of Economic Organizations and Innovation at Trinity College in Hartford. He is president of the Society for the Development of Austrian Economics, former president of the Association of Private Enterprise Education, editor of the Journal of Private Enterprise, editor of two books and author of more than 60 journal articles, book chapters and policy studies. His work has been discussed on more than 100 broadcast stations, including CBS, CNBC, CNN, Fox, Headline News, NPR and MTV. His book, Private Governance: Creating Order in Economic and Social Life, is published by Oxford University Press. About the Museum
The Museum of American Finance is the nation’s only independent museum dedicated to preserving, exhibiting and teaching about American finance and financial history. Housed in an historic bank building on Wall Street, the Museum’s magnificent grand mezzanine banking hall provides an ideal setting for permanent exhibits on the financial markets, money, banking, entrepreneurship and Alexander Hamilton.

About the Museum
The Museum is an independent, non-profit 501(c)(3) Smithsonian affiliate creating non-ideological presentations and programs for purposes of education and general public awareness. Financial education is at the core of the Museum’s mission, seeking to promote lifelong learning and inquiry.

As a chronicler of American financial achievement and development, the Museum seeks to play a special role as a guardian of America’s collective financial memory, as well as a presenter and interpreter of current financial issues, thereby connecting the past with the present while serving as a guide for the future.

MUSEUM OF AMERICAN FINANCE
48 Wall Street | New York, NY 10005
Tel: 212.908.4110 | Fax: 212.908.4601
www.moaf.org

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