A Social History of Company Law - download pdf or read online
By Rob McQueen
The heritage of incorporations laws and its management is in detail tied to adjustments in social ideals in recognize to the function and function of the company. by means of learning the evolution of the company shape in Britain and a couple of its colonial possessions, the booklet illuminates debates on key ideas together with the meanings of laissez faire, freedom of trade, the concept of company accountability and the position of the nation within the rules of industrial. In doing so, the ebook advances our knowing of the form, effectiveness and deficiencies of recent regulatory regimes.
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Extra resources for A Social History of Company Law
The possibilities held out by the extension of state sanctioned incorporation to a broad array of enterprises appealed to many. This was because of its potential to re-invigorate the English commercial sector by undermining privilege and reactivating genuine competitiveness. The corporate principle also appealed to many in the middle class and the labour aristocracy due to the possibilities it held for broadening out the available range of ‘cheaper’ investments. Indeed the promotion of canal and railway companies in the early nineteenth century permanently changed the attitudes of many sectors of the English people towards the joint stock company.
In his account of the historical foundations of modern company law Formoy claimed that ‘owing to the great setback produced by the Bubble Act, the development of company law [in Great Britain] was postponed at least a century’. Both leading English legal historians, such as Holdsworth, and leading North American economic historians of the corporation, such as Heberton Evans, have also characterized the Bubble Act as a significant restriction on the ‘proper’ development of company law in England.
On the other hand, if one conceives of corporate law and regulation as overdetermined institutions then it becomes clear that a diverse range of policies can be inscribed into the framework of corporate law. 10 If one is to consider the range of possible forms which company law may take it is also important to challenge Whiggish interpretations of the history of modern company law, as a progression from an ignorant past in which the prevailing forms of business organization held back economic development towards a present in which available forms of business organization are better attuned to the economic structure of society.
A Social History of Company Law by Rob McQueen