Rough Consensus and Running Code : A Theory of Transnational Private Law

Private law has long been the focus of efforts to explain wider developments of law in an era of globalisation. As consumer transactions and corporate activities continue to develop with scant regard to legal and national boundaries, private law theorists have begun to sketch and conceptualise the possible architecture of a transnational legal theory. Drawing a detailed map of the mixed regulatory landscape of 'hard' and 'soft' laws, official, unofficial, direct and indirect modes of regulation, rules, recommendations and principles as well as exploring the concept of governance through disclosure and transparency, this book develops a theoretical framework of transnational legal regulation.

Rough Consensus and Running Code describes and analyses different law-making regimes currently observable in the transnational arena. Its core aim is to reassess the transnational regulation of consumer contracts and corporate governance in light of a dramatic proliferation of rule-creators and compliance mechanisms that can no longer be clearly associated with either the 'state' or the 'market'. The chosen examples from two of the most dynamic legal fields in the transnational arena today serve as backdrops for a comprehensive legal theoretical inquiry into the changing institutional and normative landscape of legal norm-creation.

“...a sophisticated and thoughtful effort to renew and update our understanding of law to accommodate the challenging realities of globalise regulatory processes.” —The Modern Law Review, Volume 75, Issue 3

“...one of the most striking feature of this work is its engagement with an impressive body of literature, from legal theory to sociology, economics and social sciences in general, in an attempt to embed the project in the broader debate of law in the global space. The result is an original, rich and highly complex book, which undoubtedly will, and in fact already is, stimulating debates and discussions over the nature and making of transnational law.
... a must read for whomever wrestles in (or whomever seeks to enter) the rough arena of transnational law!” —European Journal of Legal Studies, Volume 4, Issue 1