Howell Jackson

Howell Jackson is the James S. Reid, Jr., Professor of Law at Harvard Law School. His research interests include financial regulation, digital assets, consumer protection, international finance, and federal budget policy. Jackson has co-authored four books—Financial Regulation: Law and Policy (3rd ed. 2021), Fintech Law: The Case Studies (2020), Analytical Methods for Lawyers (3rd ed. 2017), and Fiscal Challenges: An Interdisciplinary Approach to Budget Policy (2008)—and authored numerous scholarly articles. Jackson frequently consults with public officials and regulatory agencies on financial regulation. He is also a trustee of the College Retirement Equities Fund (CREF). Before joining the Harvard Law School faculty in 1989, Jackson practiced law in Washington, D.C., and was a law clerk for Associate Justice Thurgood Marshall. He received his JD and MBA degrees from Harvard University in 1982 and a BA from Brown University in 1976.

Reconsidering George Stigler v. Milton Cohen and the SEC’s Special Study

Summary Teaser: Howell E. Jackson revisits George Stigler’s famous 1964 critique of the Securities and Exchange Commission and particularly his critique of the work of SEC lawyer Milton Cohen, who headed the SEC’s Special Study of Securities Markets in the early 1960s.  Although time has validated Cohen’s intuitions regarding the value of expanding SEC oversight into over-the-counter markets, Stigler’s call for more careful economic analysis supported by robust empirical justification has heavily influenced how the SEC and other financial regulators stive to operate today.

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