Reshaping Markets
Economic Governance, the Global Financial Crisis and Liberal Utopia

Using an interdisciplinary approach, this book explains the role of private law in governing markets.

Bertram Lomfeld (Edited by), Alessandro Somma (Edited by), Peer Zumbansen (Edited by)

9781107095908, Cambridge University Press

Hardback, published 15 April 2016

388 pages, 3 b/w illus. 8 tables
23.5 x 15.8 x 2.6 cm, 0.7 kg

Set against the origins and consequences of the global financial crisis, this timely book offers an enriching and revealing narrative of the role that the state plays in regulating markets. Focusing on core areas of private law such as corporate, labour and banking law, the contributors offer a conceptual framework in which to examine the central tenets of the role of private law in today's global economy. In the current climate of ever increasing economic inequality and austerity measures, the authors highlight the urgent need for a comprehensive analysis of the continuing tension between ideas of market liberalism and theories of society. With a focus on both the domestic and transnational dimensions of market governance, the authors offer a crucial insight into the co-existence and interaction between state and market-based economic governance.

Introduction: reshaping markets and the question of agency Peer Zumbansen
Part I. Crisis and Normality in Transnational Market Regulation: 1. The central problem of Marx's economics and the nature of market regulation David Campbell
2. Contract law, securitization and the pre-crisis transformation of banking James Varellas
3. 'Inside' and 'outside' the firm: corporate law and contract governance as regulatory theories Peer Zumbansen
Part II. Austerity Woes: Trials and Tribulations of Debt: 4. The Greek crisis: a critical narrative Iannis Michos
5. The biopolitics of debt-economy: market order, ascetic and hedonistic morality Alessandro Somma
6. Credit contracts and the political economy of debt Moritz Renner and Andreas Leidinger
Part III. Reforming Finance: Systematic Risk and Accountability: 7. Why manager liability fails at controlling systemic risk Andreas Engert
8. How special are they? Targeting systemic risk by regulating shadow banking Tobias Tröger
9. Fixing finance 2.0 John M. Conley and Cynthia A. Williams
10. Regulating financial markets: what we might learn from sovereign wealth funds Larry Catá Backer
Part IV. Transforming Contract: 11. Sustainable contracting: how standard terms could govern markets Bertram Lomfeld
12. Anti-discrimination law and social policy-making Sonja Haberl
13. European or American style? Cultures of contract regulation Daniela Caruso
Part V. Conceptual Utopia: The Market After the Market: 14. The truth of the market Maria Rosaria Ferrarese
Epilogue: the power of law to reshape markets Bertram Lomfeld.

Subject Areas: Capital markets & securities law & regulation [LNPD], Private international law & conflict of laws [LBG], Law [L], Corporate governance [KJR], Corporate finance [KFFH]