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Social Protection After the CrisisRegulation without enforcement$
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Steve Tombs

Print publication date: 2015

Print ISBN-13: 9781447313755

Published to Policy Press Scholarship Online: May 2016

DOI: 10.1332/policypress/9781447313755.001.0001

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Regulation, orthodoxy and hegemony: crisis, what crisis?

Regulation, orthodoxy and hegemony: crisis, what crisis?

(p.75) Four Regulation, orthodoxy and hegemony: crisis, what crisis?
Social Protection After the Crisis

Steve Tombs

Policy Press

From the 1970s onwards, a substantial body of academic work emerged around ‘regulation’. Dominant within this literature is a particular strand, with empirical, theoretical and normative dimensions, which views regulatory activities as the outcome and/or attempt to forge a consensus across a plurality of competing claims on the part of potentially - but not fundamentally – antagonistic parties all of whom, ultimately, are viewed as having a mutual interest in an efficient business sector. This chapter provides an overview of this literature as an orthodoxy, examines its responses to the financial crisis – in part, the result of a failure of regulation – and argues that this dominance not been disrupted by the events that unfolded from late 2007 onwards. This latter claim, it will be argued, is a matter not of accuracy nor the power of ideas, but of hegemony and thus of power per se.

Keywords:   corporate social responsibility, hegemony, liberalism, orthodoxy, pluralism, responsive regulation, risk based regulation

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