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Editor Pick – ‘Social Market Economy’ vs. ‘Market Society’: EU Socialist Group on Hedge Fund/Private Equity Regulation

EurActiv reports:

“A 300-page expert report published by the European Parliament Socialist group on 29 March 2007 argues for a stronger regulation of hedge funds and private equity.

“We still believe in the market, but we insist on ‘social market economy’ not on a ‘market society’,” the document states.

The report was commissioned by of former Danish PM Poul Nyrup Rasmussen and Dutch MEP and spokeswoman on economic and monetary affairs Ieke van den Burg. It puts forward a number of concerns about unregulated equity funds, such as risks for pensions, the viability of private companies, security of service provision, decent work, financial market stability and ethics.”

Here’s the report’s executive summary:  Hedge Funds and Private Equity – A Critical Analysis (Executive Summary)

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Edwin G. Dolan is an economist and educator with a Ph.D. from Yale University. Early in his career, he was a member of the economics faculty at Dartmouth College, the University of Chicago, and George Mason University. From 1990 to 2001, he taught in Moscow, Russia, where he and his wife founded the American Institute of Business and Economics (AIBEc), an independent, not-for-profit MBA program. Since 2001, he has taught at several universities in Europe, including Central European University in Budapest, the University of Economics in Prague, and the Stockholm School of Economics in Riga, where he has an ongoing annual visiting appointment. During breaks in his teaching career, he worked in Washington, D.C. as an economist for the Antitrust Division of the Department of Justice and as a regulatory analyst for the Interstate Commerce Commission, and later served a stint in Almaty as an adviser to the National Bank of Kazakhstan. When not lecturing abroad, he makes his home in San Juan Islands, Washington.

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