Insider Trading and the Law Professors

When Insider Trading and the Stock Market\u27 appeared in November, 1966, I was fully prepared for a goodly amount of disagreement. I was not prepared however for the emotional, almost hostile response my book received from some members of the academic community. This is not to say that all the reviews by law professors were unsympathetic and emotional in tone. Indeed the majority of them were not, and while critical reviews outnumbered favorable ones, most were in some degree mixed, and the tone was generally scholarly, impersonal, and in many cases constructive But the response to my book in the academic community outside of law schools has been more gratifying personally. Unfortunately this response cannot be objectively measured in terms of the number of pro and con book reviews, but with a number of economists of high academic standing my book is taken as an original contribution to the analysis of an important but heretofore almost unexamined area