The history of PR highlights that one of the early drivers of PR was to try to protect industry against regulation and early luminaries such as Ivy Lee and Bernays partly made their name in this respect as Stuart Ewen in PR - A Social History highlights.
In this context it is interesting to note that regulation has been dominating the news agenda again and this time regarding surely the most powerful global sector - financial markets. Clearly we have witnessed a great failure of financial markets and particularly the efficient market theory which has underpinned the workings of modern markets - but should this also be seen at the micro scale as a sign of the failure of the financial PR industry generally? Probably it would have been so regarded by the early PR pioneers. Time for a retrospective on financial PR and the lessons learned?
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