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Law and Regulation in Late Modernity

Banakar, Reza LU (2013) In Law and Social Theory 1. p.305-324
Abstract
What happens to law when social institutions which ground its normativity become unstable and transitory? How can regulation make sense when fleetingness and fluidity become the enduring property of social structures? The social consequences of globalisation and the rise of the network society have heightened and expanded human agency’s powers of reflexivity vis-à-vis social structures. They have accelerated the process which melts the solid contours of the industrial society, paving the way for the emergence of reflexive or late modernity. These radical transformative processes have increased the agency’s ability to free itself from the constraints of social institutions and enabled it to move beyond the effective reach of traditional... (More)
What happens to law when social institutions which ground its normativity become unstable and transitory? How can regulation make sense when fleetingness and fluidity become the enduring property of social structures? The social consequences of globalisation and the rise of the network society have heightened and expanded human agency’s powers of reflexivity vis-à-vis social structures. They have accelerated the process which melts the solid contours of the industrial society, paving the way for the emergence of reflexive or late modernity. These radical transformative processes have increased the agency’s ability to free itself from the constraints of social institutions and enabled it to move beyond the effective reach of traditional forms of social control. Under these conditions, forms of law, which are tied to social structures, lose their determinacy as they try to respond to the fluidity of social processes. This chapter starts by introducing the notion of late modernity before moving on to explore how the law fares under socio-cultural conditions specific to late modern societies. Part One uses the financial global crisis of 2007-2008 as a backdrop against which to formulate a number of concerns regarding the limits of legal regulation in late modernity. Part Two explores the formation and operations of the late modern state, asking if power is separated from politics and has moved to the level of global organisations. Part Three asks what kind of law is emerging de facto in response to the fluidity of late modernity, and how legal imagination envisages the future of law. The chapter concludes by discussing why late modernity, which marks the agency’s heightened powers of reflexivity, appears paradoxically wanting in transcendental imagination and determination. (Less)
Please use this url to cite or link to this publication:
author
organization
publishing date
type
Chapter in Book/Report/Conference proceeding
publication status
published
subject
keywords
late modernity, liquefaction, law, rights, regulation, morality, derivatives, financial crisis, social corporate responsibility, globalisation, cosmopolitanism, reflexivity
in
Law and Social Theory
editor
Banakar, Reza and Travers, Max
volume
1
pages
305 - 324
publisher
Hart Publishing Ltd
ISBN
9781849463812
language
English
LU publication?
yes
id
09e4c145-e51b-4be4-bcc4-07e1db85eddc (old id 3632071)
alternative location
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2229247
date added to LUP
2013-04-11 12:42:43
date last changed
2016-04-16 08:23:39
@inbook{09e4c145-e51b-4be4-bcc4-07e1db85eddc,
  abstract     = {What happens to law when social institutions which ground its normativity become unstable and transitory? How can regulation make sense when fleetingness and fluidity become the enduring property of social structures? The social consequences of globalisation and the rise of the network society have heightened and expanded human agency’s powers of reflexivity vis-à-vis social structures. They have accelerated the process which melts the solid contours of the industrial society, paving the way for the emergence of reflexive or late modernity. These radical transformative processes have increased the agency’s ability to free itself from the constraints of social institutions and enabled it to move beyond the effective reach of traditional forms of social control. Under these conditions, forms of law, which are tied to social structures, lose their determinacy as they try to respond to the fluidity of social processes. This chapter starts by introducing the notion of late modernity before moving on to explore how the law fares under socio-cultural conditions specific to late modern societies. Part One uses the financial global crisis of 2007-2008 as a backdrop against which to formulate a number of concerns regarding the limits of legal regulation in late modernity. Part Two explores the formation and operations of the late modern state, asking if power is separated from politics and has moved to the level of global organisations. Part Three asks what kind of law is emerging de facto in response to the fluidity of late modernity, and how legal imagination envisages the future of law. The chapter concludes by discussing why late modernity, which marks the agency’s heightened powers of reflexivity, appears paradoxically wanting in transcendental imagination and determination.},
  author       = {Banakar, Reza},
  editor       = {Banakar, Reza and Travers, Max},
  isbn         = {9781849463812},
  keyword      = {late modernity,liquefaction,law,rights,regulation,morality,derivatives,financial crisis,social corporate responsibility,globalisation,cosmopolitanism,reflexivity},
  language     = {eng},
  pages        = {305--324},
  publisher    = {Hart Publishing Ltd},
  series       = {Law and Social Theory},
  title        = {Law and Regulation in Late Modernity},
  volume       = {1},
  year         = {2013},
}