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Money talks : the language of the Rochester School

Author

Listed:
  • Nihel Chabrak

    (IMT-BS - DEFI - Département Droit, Economie et Finances - TEM - Télécom Ecole de Management - IMT - Institut Mines-Télécom [Paris] - IMT-BS - Institut Mines-Télécom Business School - IMT - Institut Mines-Télécom [Paris], CEMANTIC - Centre d'Études et de recherches en Management et TIC - TEM - Télécom Ecole de Management - IMT - Institut Mines-Télécom [Paris], UAEU - College of Business and Economics, Accounting Department (United Arab Emirates University), Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres)

Abstract

Purpose - Since the late 1970s, research in accounting has been colonized by positive accounting theory (PAT) despite strong claims that it is fundamentally flawed in terms of epistemology and methodology. This paper aims to offer new insights to PAT by critically examining its basic tenets. Design/methodology/approach - The paper subjects the language of the Rochester School to a deconstruction that is a transformational reading. This uncovers rhetorical operations and unveils hidden associations with other texts and ideas. Findings - A new interpretation of the Rochester School discourse is provided. To afford scientific credibility to deregulation within the accounting field, Watts and Zimmerman used supplements and missing links to enhance the authority of PAT. They placed supplements inside their texts to provide a misleading image of PAT. These supplements rest on von Hayek's long‐term shaping blueprint to defeat apostles of the welfare state. Yet, to set PAT apart from normative theories that Watts and Zimmerman claimed were contaminated by value judgments, they made no reference in their text to the tight links between the Rochester School and the libertarian project initiated by von Hayek. Research limitations/implications - Any reading of PAT cannot present the infinite play of meaning that is possible within a text. Deconstruction involves a commitment to on‐going, eternal questioning. Originality/value - The paper provides evidence of the relation between PAT and the neoliberal (libertarian) project of von Hayek. PAT is viewed as part of the institutional infrastructure and ideological apparatus that legitimates the hegemony of markets.

Suggested Citation

  • Nihel Chabrak, 2012. "Money talks : the language of the Rochester School," Post-Print hal-01332004, HAL.
    • Handle: RePEc:hal:journl:hal-01332004
    DOI: 10.1108/09513571211209608
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    Citations

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    Cited by:

    1. Jupe, Robert & Funnell, Warwick, 2015. "Neoliberalism, consultants and the privatisation of public policy formulation: The case of Britain's rail industry," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 29(C), pages 65-85.
    2. Gendron, Yves, 2018. "On the elusive nature of critical (accounting) research," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 50(C), pages 1-12.
    3. Zhang, Eagle & Andrew, Jane, 2016. "Rethinking China: Discourse, convergence and fair value accounting," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 36(C), pages 1-21.
    4. Edwards, John Richard & Dean, Graeme & Clarke, Frank & Wolnizer, Peter, 2013. "Accounting academic elites: The tale of ARIA," Accounting, Organizations and Society, Elsevier, vol. 38(5), pages 365-381.
    5. Murphy, Tim & O’Connell, Vincent, 2017. "Challenging the dominance of formalism in accounting education: An analysis of the potential of stewardship in light of the evolution of legal education," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 44(C), pages 1-29.
    6. Barthold, Charles & Dunne, Stephen & Harvie, David, 2018. "Resisting financialisation with Deleuze and Guattari: The case of Occupy Wall Street," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 52(C), pages 4-16.
    7. Gendron, Yves & Smith-Lacroix, Jean-Hubert, 2015. "The global financial crisis: Essay on the possibility of substantive change in the discipline of finance," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 30(C), pages 83-101.
    8. Cooper, Christine, 2015. "Accounting for the fictitious: A Marxist contribution to understanding accounting's roles in the financial crisis," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 30(C), pages 63-82.
    9. Wilkinson, Brett R. & Durden, Chris H., 2015. "Inducing structural change in academic accounting research," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 26(C), pages 23-36.
    10. Yasmine Chahed, 2021. "Words and Numbers: Financialization and Accounting Standard‐Setting in the United Kingdom," Contemporary Accounting Research, John Wiley & Sons, vol. 38(1), pages 302-337, March.
    11. Sorola, Matthew, 2022. "Q methodology to conduct a critical study in accounting: A Q study on accountants’ perspectives of social and environmental reporting," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 86(C).
    12. Williams, Paul F., 2017. "Jumping on the wrong bus: Reflections on a long, strange journey," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 49(C), pages 76-85.

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