From Economy to Society: Perspectives on Transnational Risk Regulation

by Bettina Lange, Dania Thomas, Austin Sarat

Overview

This special issue asks what role society can play in the regulation of transnational risks, as an alternative to or at least significant addition to reliance on state regulatory activity and the myth of the self-regulatory capacity of markets (Stiglitz, 2001, p. xiii). How can a social sphere contribute to the prevention and management of risks, often transnational in nature, posed by economic activity? Leading socio-legal scholars explore whether and how the idea of harnessing the regulatory capacity of a social sphere provides a new analytical lens that can provide fresh insights into transnational risk regulation, and whether this idea helps to identify innovative approaches to regulating transnational risks.

Product Details

ISBN-13:	9781781907382
Publisher:	Emerald Group Publishing Limited
Publication date:	11/11/2013
Series:	Studies in Law, Politics, and Society , #62
Pages:	288
Product dimensions:	5.98(w) x 9.02(h) x 1.02(d)

Table of Contents

List of Contributors ix

Editorial Board xi

After a Romantic Aspiration to Society: Harnessing the Regulatory Capacity of a Social Sphere Bettina Lange 1

Part I Theoretical Engagement with Polanyi: Context and Critique

Polanyi in an Hourglass: The Two Lives of a Sociological Classic Sabine Frerichs 25

A Systems Theory Perspective on Polanyi's Great Transformation: The Case of Financial Derivative Contracts John Paterson 49

From Polanyi to Discourse Theory Bettina Lange 73

Part II Applying and Developing Polanyian Ideas

Theme 1 Regulating Through Embedding Sovereign Debt Default

How Markets Work: The Lawyer's Version W. Mark C. Weidemaier Mitu Gulati 107

Sovereign Debt Restructuring in the Eurozone: A Polanyian Reading of Private Law Enforcement Dania Thomas 135

Theme 2 Moralizing Markets Through Fair Trade and Corporate Social Responsibility

Defiance in the Social Sphere: The Complexity of Risk Regulation in the Case of Fair Trade Anna Hutchens 163

"Etiquette and Magic": Between Embedding and Embedded Corporate Social Responsibility Aurora Voiculescu 189

Theme 3 Embedding Economic Activity Through Emotions?

Emotions and Risk Regulation Susan A. Bandes 219

Trust and Regulation: Insights from the Mining Industry Petrina Schiavi 239

Discussion Piece

Separate Spheres? The Cultural Contradictions of Markets Mitchel Y. Abolafia 265