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Full-Text Articles in Law

Market Collaboration: Finance, Culture, And Ethnography After Neoliberalism, Annelise Riles Dec 2014

Market Collaboration: Finance, Culture, And Ethnography After Neoliberalism, Annelise Riles

Annelise Riles

In the wake of the disasters of March 2011, financial regulators and financial-risk management experts in Japan expressed little hope that much could be done nor did they take great interest in defining possible policy interventions. This curious response to regulatory crisis coincided with a new fascination with culturalist explanations of financial markets, on the one hand, and a resort to what I term “data politics”—a politics of intensified data collection—on the other. In this article, I analyze these developments as being exemplary of a new regulatory moment characterized by a loss of faith in both free market regulation and …


Ethnography In The Realm Of The Pragmatic: Studying Pragmatism In Law And Politics, Annelise Riles Dec 2014

Ethnography In The Realm Of The Pragmatic: Studying Pragmatism In Law And Politics, Annelise Riles

Annelise Riles

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Transdisciplinary Conflict Of Laws Foreword: Cavers's Double Legacy, Karen Knop, Ralf Michaels, Annelise Riles Dec 2014

Transdisciplinary Conflict Of Laws Foreword: Cavers's Double Legacy, Karen Knop, Ralf Michaels, Annelise Riles

Annelise Riles

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Is New Governance The Ideal Architecture For Global Financial Regulation?, Annelise Riles Dec 2014

Is New Governance The Ideal Architecture For Global Financial Regulation?, Annelise Riles

Annelise Riles

A central challenge for international financial regulatory systems today is how to manage the impact of global systemically important financial institutions (G-SIFIs) on the global economy, given the interconnected and pluralistic nature of regulatory regimes. This paper focuses on the Financial Stability Board (FSB) and proposes a new research agenda for the FSB’s emerging regulatory forms. In particular, it examines the regulatory architecture of the New Governance (NG), a variety of approaches that are supposed to be more reflexive, collaborative, and experimental than traditional forms of governance. A preliminary conclusion is that NG tools may be effective in resolving some …


Placeholders: Engaging The Hayekian Critique Of Financial Regulation, Annelise Riles Dec 2014

Placeholders: Engaging The Hayekian Critique Of Financial Regulation, Annelise Riles

Annelise Riles

Since Friedrich Hayek, debates about the proper relationship between the state and the market, and about the optimal design of regulatory institutions, often turn on assumptions about the workings of legal expertise — and in particular about the difference between public expertise (bureaucratic knowledge) and private expertise (private law). Hayek’s central argument, adopted uncritically by a wide array of policy-makers and academics across the political spectrum, is a temporal one: bureaucratic reasoning is inherently one step behind the market, and hence effective market planning is impossible. In contrast, Hayek argues, private ordering is superior because it is of the moment, …