The end of the ,New economy" from a sociology of finance perspective

The internet promised to vanquish the economic cycle and create a "New Economy". This end was not reached, but instead the internet market went from highest boom to deepest bust in economic history. My thesis is that deregulation, a neo-conservative value shift and a change of professional ethos at the stock exchange opened the doors to institutional failure. To analyse these events, I use the framework of the sociology of institutions. I analyse why the rules of the market institutions and its controls did not work and ask for the contribution of expert groups and their dysfunctioning in this process.