Fraud

In this expansive narrative, Edward Balleisen chronicles the intricate history of fraud in American business, revealing its persistent presence from the era of PT Barnum to modern figures like Bernie Madoff. He explores the challenge of balancing entrepreneurial freedom with the need for consumer protection, detailing the evolution of regulatory institutions through significant historical periods such as the Gilded Age and the New Deal. Balleisen ultimately highlights the ongoing struggles to maintain a robust economy while safeguarding against deceit, illustrating how American capitalism is built on a delicate foundation of social trust.