The lost legitimacy: Property, business power and the constitution

After nearly a quarter of a century of business friendly government in Brit ain, the business community nevertheless finds itself more unpopular than f or three decades and is increasingly beset by demands for regulation. The s ources of its problems lie in the regulatory structures historically create d for the business community. These structures have been unable to cope wit h regulation in the world of large-scale privatization, global economic com petition and the demands of democratic politics for public accountability. Business is therefore struggling to create new sources of legitimacy. We live under a system of tacit understandings. But the understandings them selves are not always understood.