Changing the Rules of the Game: Recasting the Legal and Ethical Foundation of Business and Management

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Title: Changing the Rules of the Game: Recasting the Legal and Ethical Foundation of Business and Management
Authors: Kavanagh, Donncha
Brigham, Martin
Burton, Nicholas
Permanent link: http://hdl.handle.net/10197/9333
Date: 8-Jul-2017
Abstract: The neoliberal critique tends to pit the state—and its multifarious appendages—in opposition to the market, with the former typically depicted as a negative, debilitating, inefficient entity, in contrast to the market which is presented as a ‘natural’ phenomenon and the solution to virtually all socio-economic problems. Buoyed up by transaction cost economics, which sees markets as natural and organisations— both public and private—as instances of ‘market failure’, the neoliberal critique has waged an incessant war on the state, seeking to minimise and marginalise its remit, while, at every turn, questioning its need for and use of resources. In short, the state (and its bureaucracy) is bad and the market is good. However, this critique is problematic because the historical record indicates that markets are either directly or indirectly produced by government action, and, paradoxically, attempts to create a ‘free’ market have increased rather than reduced the size of the state’s bureaucracy (Graeber, 2015). What is clear is that the state, through legislation, enables business to happen, and is also deeply implicated in monitoring and controlling business practice.
Type of material: Conference Publication
Publisher: European Group for Organizational Studies
Keywords: RulesLawCorporate governance
Other versions: https://www.egosnet.org/2017_copenhagen/sub-themes
Language: en
Status of Item: Peer reviewed
Conference Details: 33rd European Group of Organizational Studies (EGOS) Colloquium. Sub-theme 20: Financialization and its Societal Implications: Rethinking Corporate Governance and Shareholders, Copenhagen, 6-8 July 2017
Appears in Collections:Business Research Collection

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