Author: lawrence baxter

Lawrence Baxter is a professor of the practice of law at Duke University in Durham, NC.  In his varied career Lawrence has taught law in the United States, South Africa, Australia, Belgium and Hong Kong, consulted for agencies of the federal government and worked on the staff of the United States Senate Committee on Banking, Housing and Urban Affairs during the period of reform after the Savings & Loan Crisis of the late 1980s, and has gained extensive experience in the business of financial services and e-commerce as a corporate executive vice president with one of the largest financial companies in the US.  He was educated in law and business at the University of Cambridge, England, and University of Natal (now KwaZulu-Natal) in South Africa.  Lawrence currently teaches, researches and writes in the fields of domestic and international banking regulation and its reform, regulatory reform and the ethics of financial business. Lawrence is married to a pediatrician and has three daughters and a son.

barking dogs, deaf ears

In a great frenzy of real estate development, fueled by irresponsible bank lending, Ireland virtually blew up its entire economy. After looking like an example of the miracle of the “new economy,” Ireland now stands forlorn among the most devastated…

adam smith on freedom and markets

Adam Smith, the greatest icon of free market theorists, has as Amartya Sen observed “had much smallness thrust upon him.” Far from arguing that markets make people free, Smith knew full well how markets could be hijacked by powerful interests.…

targeting the “super spreaders”

The best way for us to approach financial reform is to understand financial markets and the financial system itself as a series of highly complex adaptive systems–a rich and diverse ecology. These ecologies are continually evolving. They are inhabited by…

whither financial globalization?

Yogi Berra advised that “when you come to a fork in the road, take it.” This is where globalization is going. The full significance of globalization sometimes still eludes us. It takes events, such as the sudden near economic collapse…

size, subsidiarization and stability

Once again very senior figures are proposing that the scale and structure of very large financial institutions be reconsidered. Nearly every major regulatory leader has raised the question, as have many economists across the political spectrum and in both the…