Rights statement: The final, definitive version of this article has been published in the Journal, Social and Legal Studies, 27 (5), 2018, © SAGE Publications Ltd, 2018 by SAGE Publications Ltd at the Social and Legal Studies page: http://journals.sagepub.com/home/SLS on SAGE Journals Online: http://journals.sagepub.com/
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Final published version
Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
}
TY - JOUR
T1 - The 'Market' in the Theory of Regulation
AU - Campbell, Ian David
N1 - The final, definitive version of this article has been published in the Journal, Social and Legal Studies, 27 (5), 2018, © SAGE Publications Ltd, 2018 by SAGE Publications Ltd at the Social and Legal Studies page: http://journals.sagepub.com/home/SLS on SAGE Journals Online: http://journals.sagepub.com/
PY - 2018/10/1
Y1 - 2018/10/1
N2 - This article reviews developments in the left-wing theory of regulation in response to the neo-liberal revolution of the 1970s. The core of this response has been an acknowledgement of the indispensability of market ordering, but this acknowledgement has been only grudging and no positive theory of the market has emerged from regulatory proposals which concentrate on market failure. A sort of inchoate communism therefore pervades the left-wing theory of regulation, and left-wing regulatory theory and practice still lacks a coherent concept of the social market.
AB - This article reviews developments in the left-wing theory of regulation in response to the neo-liberal revolution of the 1970s. The core of this response has been an acknowledgement of the indispensability of market ordering, but this acknowledgement has been only grudging and no positive theory of the market has emerged from regulatory proposals which concentrate on market failure. A sort of inchoate communism therefore pervades the left-wing theory of regulation, and left-wing regulatory theory and practice still lacks a coherent concept of the social market.
KW - Intervention
KW - market economics
KW - market failure
KW - regulatory theory
KW - socialism
U2 - 10.1177/0964663917730122
DO - 10.1177/0964663917730122
M3 - Journal article
VL - 27
SP - 545
EP - 571
JO - Social and Legal Studies
JF - Social and Legal Studies
SN - 0964-6639
IS - 5
ER -