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Brexit and British Business Elites: Business Power and Noisy Politics

Author

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  • Magnus Feldmann
  • Glenn Morgan

Abstract

This article analyzes business power in the context of noisy politics by comparing business involvement in two British referendum campaigns: one about membership in the European Communities in 1975, and the Brexit referendum about European Union membership in 2016. By exploring these two contexts, the article seeks to identify the conditions under which business elites can and cannot be effective in a context of noisy politics. Three key factors are identified as determinants of business influence during periods of noisy politics: the incentives to get directly involved in noisy politics; the legitimacy of business involvement; and, finally, the capacity to act in a cohesive way. The article shows that these factors have changed substantially over the last four decades because of wider changes in the nature of capitalism, and their impact on business power in the United Kingdom and more generally is discussed.

Suggested Citation

  • Magnus Feldmann & Glenn Morgan, 2021. "Brexit and British Business Elites: Business Power and Noisy Politics," Politics & Society, , vol. 49(1), pages 107-131, March.
  • Handle: RePEc:sae:polsoc:v:49:y:2021:i:1:p:107-131
    DOI: 10.1177/0032329220985692
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    Citations

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    Cited by:

    1. Matevž (Matt) Rašković & Katalin Takacs Haynes & Anastas Vangeli, 2024. "The emergence of populism as an institution and its recursive mechanisms: A socio-cognitive theory perspective," Journal of International Business Policy, Palgrave Macmillan, vol. 7(1), pages 19-40, March.
    2. Paul Agu Igwe, 2022. "The Paradox of Brexit and the Consequences of Taking Back Control," Societies, MDPI, vol. 12(2), pages 1-15, April.
    3. Dorottya Sallai & Gerhard Schnyder & Daniel Kinderman & Andreas Nölke, 2024. "The antecedents of MNC political risk and uncertainty under right-wing populist governments," Journal of International Business Policy, Palgrave Macmillan, vol. 7(1), pages 41-63, March.
    4. Sallai, Dorottya & Schnyder, Gerhard & Kinderman, Daniel & Nölke, Andreas, 2023. "The antecedents of MNC political risk and uncertainty under right-wing populist governments," LSE Research Online Documents on Economics 118668, London School of Economics and Political Science, LSE Library.
    5. Hartwell, Christopher A. & Devinney, Timothy M., 2024. "The demands of populism on business and the creation of “corporate political obligations”," International Business Review, Elsevier, vol. 33(2).
    6. Ologunebi, John, 2023. "The marketing strategy to increase Gen Z and Millennials' usability of Asda's website: A case study of ASDA Uk," MPRA Paper 119417, University Library of Munich, Germany.
    7. Alex Lehr & Giedo Jansen & Bernd Brandl, 2024. "All about power after all? A multi‐level analysis of employers’ organization membership in Europe," British Journal of Industrial Relations, London School of Economics, vol. 62(2), pages 233-261, June.
    8. Nyberg, Daniel & Murray, John, 2023. "Corporate populism: How corporations construct and represent ‘the people’ in political contestations," Journal of Business Research, Elsevier, vol. 162(C).

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