The laws of the economy: decriminalizing business transgressions in the late 19th century

ABSTRACT This article examines the relationship between law and business, and the connection between criminal law and civil law in controlling economic transgressions. In the late 19th century, governments all over Europe sought to establish new legislation regulating the economy. This was also the case in Norway. Traditionally, this had been done through criminal law, but, as argued in this paper, a new understanding of the economy as a system marked by its own logic moved the control of business transgressions away from criminal law. Instead, civil law regulations became the preferred means of control. In effect, this implied a decriminalization of norm violations in the business community. Through this, the symbolic power of law contributed to a changed view of business morals: economic action was no longer to be understood solely through notions of guilt and personal responsibility.