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| Author: | Halliday, T. C. Carruthers, B. G. |
| Title: | The moral regulation of markets: Professions, privatization and the English Insolvency Act 1986 |
| Journal: | Accounting, Organizations and Society
1996 : MAY, VOL. 21:4, p. 371-413 |
| Index terms: | REGULATIONS PRIVATIZATION ENGLAND |
| Language: | eng |
| Abstract: | Both economists and sociologists in the last two decades have pointed to the variety of ways that markets require normative foundations and legitimation. In order to understand better how market morality is constructed through law, this paper examines how Mrs Tacher's Conservative Government used the 1986 Insolvency Act to produce a reconstruction of market behavior. First , it championed privatization in the administration of bankruptcy and in corporate liquiditation and reorganization. To do so required a clean-up of the "unacceptable face of capitalism"." It used the insolvency reforms to develop a moral code that distinguished among three types of commercial behavior - mistakes, recklessness, and criminal activity. |
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