Capital United? Business Unity in Regulatory Politics and the Special Place of Finance

While organized business is a key actor in regulatory politics, its influence is often conditional on the level of unity or conflict occurring within the business community at any given time. Most contemporary regulatory policy interventions put pressure on normal mechanisms of business unity, since they are highly targeted and sector-specific. This raises the question of how business unity operates across a highly variegated economic terrain in which costs are asymmetric and free-riding incentives are high. In the paper we empirically assess patterns of business unity within regulatory policymaking across different regulated sectors. Our analysis utilizes data from hundreds of regulatory policy proposals, and business community reactions to them in the telecommunications, energy, agriculture, pharmaceutical and financial sectors over a variety of institutional contexts. We find considerable empirical support for the ‘finance capital unity’ hypothesis – the notion that the financial sector enjoys more business unity than do other regulated sectors of the economy. When the financial sector is faced with new regulations, business groups from other sectors frequently come to its aid

Targeting sustainable competitiveness in Croatia by implementation of “20 Keys” methodology

Throughout the current wave of regulatory reforms, several theoretical models have been proposed that call for the emergence of instruments of self-regulation under some form of state supervision as part of the demand to improve product development performances aligned with awareness of environmental needs, to help with meeting regulation and to reduce the risk of production nonconformance. “20 Keys” is one example of a mass application of a methodology for raising sustainable development and holistic approach to competitiveness in new EU member the Republic of Croatia, and therefore, the aim of this study is to observe the results of the methodology application in Croatian companies. 20 Keys is a methodology that brings an integrated set of tools aimed at increasing overall productive efficiency and quality level with simultaneous reduction of costs. As it was shown in this paper, implementation success is coincident with senior management’s active role in setting the main goals for implementation, assuring that suitable methods and tools are used, allocating resources appropriately and enabling communication within the company

Explaining telecoms and electricity internationalization in the European Union: a political economy perspective

One consequence of the liberalization of certain services in the European Union was that a number of formerly inward-looking incumbents in telecommunications and electricity rapidly transformed themselves into some of the world’s leading Multinationals. However, the precise relationship between liberalization and incumbent internationalization is contested. This article tests three persuasive arguments derived from the political economy literature on this relationship. The first claims that those incumbents most exposed to domestic liberalization would internationalise most. The second asserts the opposite: incumbents operating where liberalization was restricted could exploit monopolistic rents to finance their aggressive internationalisation. The third argument claims that a diversity of paths will be adopted by countries and incumbents vis-à-vis liberalization and internationalization. Using correlation and cluster analysis of the sample of all major EU telecoms and electricity incumbent Multinationals evidence is found in favour of the third hypothesis. Internationalization as a response to liberalization took diverse forms in terms of timing and extent and this is best explained using a country, sector and firm logic

Cyberspace, Blockchain, Governance:How Technology Implies Normative Power and Regulation

Technologies and their inherent design choices create normative structures that affect governance. This chapter aims to illustrate how blockchain technology in particular introduces new norms into a legal framework. We first analyze the different forms of governance by distinguishing between old and new governance. With a view to code that functions as legal norms, Blockchain technology is particularly suited to create governance structures and mechanisms. However, one needs to be aware of the norms that are implicitly introduced into the legal system by a specific blockchain technology. We look at the blockchain technology that underlies cryptocurrencies such as Bitcoin. This blockchain introduces a decentralized, transparent, cryptographically locked and thus immutable shared ledger. In summary, these design choices have normative powers over the user and over user interaction. If this is indeed the case, then regulators have to actively assess newly introduced digital ledger technology and other technologies for their effect on the normative and legal system.</p

The Role of For-Profit Actors in Implementing Targeted Sanctions:The Case of the European Union

The evolution of sanctions from comprehensive to targeted has favored the inclusion of for-profit actors in the policy process. Sanctions are used to deal with security challenges and while the role of for-profit actors in the provision of public goods has been investigated, less has been said about their role in the provision of security. This chapter investigates the role of for-profit actors in the implementation of sanctions. More specifically, this chapter suggests a typology of regulatory environments that facilitates explaining and understanding the behavior of for-profit actors in implementing targeted sanctions. By looking at the quality of instructions provided by state authorities and their capacity to monitor the implementation of such decisions, the chapter argues that overcompliance, uneven and lack of compliance are more likely in certain regulatory environments rather than in others. The theoretical framework is tested on the case study of the restrictive measures of the EU. The data for this research was collected through semi-opened interviews and focus groups held in Brussels from 2013 to 2015

Work, Power and Performance: Analysing the 'reality' game of The Apprentice

This article addresses the relationship between the British version of the reality television programme The Apprentice and the shifting working cultures of contemporary neoliberalism. It explores how the programme enacts, through ritualized play, many skills required by the ‘flexible’ work economy: emotional commitment, entrepreneurial adaptability, a combination of team conformity and personal ambition. In particular, it highlights how newly calibrated requirements of sociality, ‘passion’, and power-as-charisma are negotiated by the programme in relation to broader emergent norms of neoliberal governmentality. However, the article simultaneously argues against overly deterministic deployments of governmentality theory, suggesting it be both supplemented by other tools (media rituals and the affective role of passion), and reoriented back towards a Foucauldian emphasis upon the instability of power. This can, it argues, both enable the programme’s appeal to be more effectively understood and help us comprehend the spaces and places where neoliberal governmentality fails, wholly or partly, to be foregrounded

The Concept of Governance in the Spirit of Capitalism

Through combining insights from political economy and sociology, this article explains the early genesis of the policy notion of governance in relation to ideological changes in capitalism. Such an approach has tended to be neglected in existing conceptual histories, in the process, undermining a sharper politicization of the term and how it became normalized. The argument dissects how the emergence of governance can be understood in light of a relationship between political crises, social critique and justificatory arguments (centered around security and justice claims) that form part of an ideological ‘spirit of capitalism’. Through a distinctive comparison between the creation of ‘corporate governance’ in the 1970s and the formulation of a ‘governance agenda’ by the World Bank from the 1980s, the article elucidates how the concept, within certain policy uses, but by no means all, can reflect and help constitute a neoliberal spirit of capitalism

The Conundrum of Order: The Concept of Governance from an Interdisciplinary Perspective

The term governance has made an impressive career in a number of disciplines concerned with regulation, order and law. This chapter draws on insights from legal studies, sociology, political science, anthropology, history and geography to paint a multifaceted picture of existing, competing and complementing approaches to the concept of governance. For reasons of space, the chapter can but point to the different variations on a theme, as governance occupies an ambivalent place in past and present discourses on political (or, legal or economic) order and society. It is argued that beyond pointing to crucial phases of methodological and theoretical transformation within different disciplines such as the often perceived transition ‘from government to governance’, governance is itself a deeply interdisciplinary concept