Notwithstanding recent paradigmatic shifts from regulation as a state function to
governance as an emergent property of interorganizational networks, conceptions of
economic ordering in socio-legal studies remain rather short-sighted. In part, this
theoretical myopia stems from a tendency to conceive of economic ordering in terms
of a normative project cast at a macro level of analysis and rooted in the
activities of formal institutions and state bodies. What has been overlooked in
these accounts is the role played by professional groups in the enactment and
legitimation of localized modes of economic ordering. This article seeks to remedy
this oversight through an analysis of one particular form of professional labour
that has emerged as a key factor in the arbitration of economic disputes and the
management of corporate disorder: the forensic accounting and corporate
investigation (FACI) industry. By defining this industry in terms of a market in
professional services and then exploring the contributions of this market to the
production of ‘private legal orders’, this analysis sets the
stage for a more sophisticated view of economic ordering in capitalist market
economies, one which is rooted in the knowledge work of professionals labouring on
the margins of law, politics, and business.
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