Seminar Room 3, first floor of the School of Law, University of Newcastle
10:30-11:15: Joanna Gray & Neill Marshall, University of Newcastle: ‘The Run on the Rock: the Crisis of the Provincial, Demutualised plc.’
11:15-12:00: Justin O’Brien, University of New South Wales: ‘Pleading Fraud: Goldman Sachs, Creative Enforcement, and the Politics of Blame.’
12:00-12:45: Julie Froud & Ismail Erturk, Manchester Business School: ‘Socrates on the board or bankers working for themselves?’
14:00-14:45: Alice Belcher, University of Dundee: ‘How Collective Responsibility could be Built into a Re-Engineered Incorporation.’
14:45-15:30: Mel Dubnick, University of New Hampshire: ‘(Re)Constructing Accountability: an Alternative to Regulatory Regime Reform.’
15:30-16:15: Michael Darrington, recently retired CEO of Greggs plc.: ‘Corporate Governance has failed to prevent explosive growth in executive pay – at what cost to society?’
15:15-16:45: Roundtable Discussion.
Capitalism was retrieved, in a sense, by the post-Fordist dispensation. The effects of manufacturing’s decline were obscured by the rise of financial services as a core part of the economy. Finance’s reimagining as an end in itself, rather than as a “servant of (firm) production,”1 facilitated the growth of a capitalism that, fed by the transfer of savings into financial markets, transformed the notion of what production entails and, as a result, the precepts upon which corporate governance are founded.
The ‘double bust’2 in financial capitalism raises major questions about how corporate production and innovation is to be imagined in the years to come. Will we see a renewed focus either on manufactured products or on financial innovation? Will new forms of production come to the fore? How are regulatory regimes to understand technological innovation in the light of the crisis?
1. I. Erturk and S. Solari, “Banks as Continuous Reinvention” New Political Economy (2007) 12, 376. (back)
2. C. Perez, “The double bubble at the turn of the century: technological roots and structural implications” Cambridge Journal of Economics (2009) 33, 779-805. (back)