The Complexity of Corporate Law

Abstract

Many claims have been made about the complexity of Australian corporate law, prompting a succession of inquiries and legislative reforms. Despite this attention, there has been little examination of the idea of complexity itself. It is assumed that we know what it is and what causes it. Looking behind those assumptions, this article draws on the work of complexity theorists to analyse why our system of corporate law is complex and to argue for realistic expectations in efforts to address the ‘complexity problem’.

Keywords: Corporate law, complexity theory, law reform

JEL Classification: K22