Centre for Law, Markets & Regulation | Law

Centre for Law, Markets & Regulation

Director: 
Dimity Kingsford Smith

 

The Centre for Law, Markets and Regulation aims to become the premier national centre for the study of the dynamics of market regulation. Markets are exceptionally complex social constructions. In sharp contrast to the parsimonious reduction in much economics theory to a metaphorical invisible hand, markets are bound together by formal and informal mechanisms. They simultaneously inform and justify institutional arrangements, in the process transforming the artificial into the tangible. The privileging of market governance–limiting the role of the state to that of enabler of freedom to contract–is the result of a very specific social ordering, which in turn has specific consequences for legal form and societal purpose. From its legal core, the Centre works outwards to explore the social construction of markets, with a particular focus, in the first instance on the construction and governance of financial markets.