The Kansas Blue Sky Act of 1911

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The book offers a comprehensive analysis of the Kansas Blue Sky Act of 1911, the first regulation of securities sales in the U.S. It balances critiques regarding its impact on individual liberty and economic growth while challenging the notion of the act as an anomaly. Instead, it delves into the significance of "blue sky laws" in reflecting the market values of small towns in the nineteenth century, providing a nuanced understanding of their historical context and implications for financial regulation.