Distracting the masses: Corporate convictions and the legitimisation of neo-liberalism

The public enforcement of corporate obligations appears to be inconsistent with the neo-liberal values of market freedom and deregulation otherwise privileged within corporations law. However, if neo-liberal discourse is viewed as a regime of truth, high profile corporate convictions - such as those following the mismanagement and catastrophic collapse of HIH Insurance - can be understood as a reinforcement mechanism legitimising the dominance of neo-liberalism not only by restoring public faith in the regulatory system but also by distracting the community's attention away from the harmful consequences of the ongoing privileging of neo-liberal values.