Review of 'A Social History of Company Law – Great Britain and the Australian Colonies 1854-1920,' by Rob McQueen

Abstract

Professor Rob McQueen’s new social history of British company law reminds us that if we are to fully understand company law, it is useful to be historically informed.

McQueen’s book has nine chapters, including an Introduction and a conclusion chapter. Chapters 2 and 3 deal with social attitudes to company law up to 1855 and early limited liability debates and Chapter 4 discusses the reasons for the enactment of limited liability legislation in 1855-56. This is followed by three chapters that review subsequent developments, leading to the consolidation of company law reforms between 1886 and 1914. McQueen also provides a chapter that looks at company law reforms in the British colonies, with particular reference to the Australian experience from 1864 to 1920. What is interesting about McQueen’s book is that it shines light upon the critical 50-year period after the enactment of the first modern company law in Britain, the 1856 Joint-Stock Companies Act. McQueen charts the shifting sands of English company law fought over by interest groups and ideologues and critically points to repeated failures by law-makers to respond adequately to wider public interest concerns.

Keywords: Company Law, Social History, England and Australia

JEL Classification: K22