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Reinventing the Market? Competition and Regulatory Change in Broadcasting

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  • Simon Deakin
  • Stephen Pratten
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    Abstract

    The reforms instituted by the Broadcasting Act 1990 led to a period of turbulence and upheaval within British broadcasting with results that were at best unintended and, at worst, seriously undermined the ideal of public service broadcasting. A Hayekian economic perspective would suggest that the reforms failed because they did not go far enough in the direction of full 'marketisation'. The paper develops an alternative perspective, based on an adaptation of systems theory within the context of law and economics. This approach offers a broader methodological foundation for the understanding of 'economic law' and a different normative perspective on the broadcasting reforms. It is suggested that the difficulty with these reforms was not their failure to go further in the direction of the market, but rather their lack of clarity in articulating a clear alternative to the market as the basis for the organisation of television production.

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    File URL: http://www.cbr.cam.ac.uk/pdf/WP134.pdf
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    Bibliographic Info

    Paper provided by ESRC Centre for Business Research in its series ESRC Centre for Business Research - Working Papers with number wp134.

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    Date of creation: Jun 1999
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    Handle: RePEc:cbr:cbrwps:wp134

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    Web page: http://www.cbr.cam.ac.uk/

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    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Simon Deakin & Stephen Pratten, 1999. "Competitiveness Policy and Economic Organisation: The Case of the British Film Industry," ESRC Centre for Business Research - Working Papers wp127, ESRC Centre for Business Research.
    2. Coase, R H, 1996. "Law and Economics and A. W. Brian Simpson," The Journal of Legal Studies, University of Chicago Press, vol. 25(1), pages 103-19, January.
    3. Fleetwood, Steve, 1996. "Order without Equilibrium: A Critical Realist Interpretation of Hayek's Notion of Spontaneous Order," Cambridge Journal of Economics, Oxford University Press, vol. 20(6), pages 729-47, November.
    4. Dahlman, Carl J, 1979. "The Problem of Externality," Journal of Law and Economics, University of Chicago Press, vol. 22(1), pages 141-62, April.
    5. Krecke Elisabeth, 1996. "Law and the Market Order. An Austrian Critique of the Economic Analysis of Law," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 7(1), pages 1-21, March.
    6. Simon Deakin & Alan Hughes, 1999. "Economic Efficiency and the Proceduralisation of Company Law," ESRC Centre for Business Research - Working Papers wp133, ESRC Centre for Business Research.
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    Cited by:
    1. Simon Deakin & Ana Lourenço & Stephen Pratten, 2008. "No 'Third Way' for Economic Organizations? Networks and Quasi-Markets in Broadcasting," ESRC Centre for Business Research - Working Papers wp360, ESRC Centre for Business Research.
    2. Marty, Frédéric & Kirat, Thierry, 2006. "La mise en œuvre de la réglementation : une lecture économico-juridique du secteur électrique et des marchés publics," Economics Papers from University Paris Dauphine 123456789/6947, Paris Dauphine University.
    3. Ana Lourenço, 2013. "In memoriam of Professor Ronald Coase," Working Papers de Economia (Economics Working Papers) 06, Faculdade de Economia e Gestão, Universidade Católica Portuguesa (Porto).

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