OP-ED: How the Future of Derivatives Markets Can Benefit Farmers
Wall Street Journal – ICLE Academic Affiliate M. Todd Henderson published an op-ed in The Wall Street Journal about FTX’s application to the Commodity Futures Trading Commission to clear futures contracts on margin. The full piece is available here.
Regulation is justified when it serves the public interest, but it is frequently motivated by the economic self-interest of powerful groups. Economists call this the “bootleggers and Baptists” phenomenon—those likely to profit from trade in illicit alcohol push for regulation alongside the moralists hoping to protect the vulnerable.