Bank Regulation and Free Market Orthodoxy

Bank Regulation and Free Market Orthodoxy D N Ghosh Notwithstanding the freedom and flexibility enjoyed by the private sector, the banking system in the US and the other developed countries has been facing several types of financial disruption. The lesson clearly is that the system can be kept on an even keel not by following blindly the dictates of the free market ideology but by striking a balance between market and regulation. Will the Narasimham Committee be able to adequately address the complexity of the problem in a matter of a few weeks?