The global diffusion of regulatory capitalism
By: Faur, David Levi-
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ArticlePublisher: Thousand Oaks : SAGE, March 2005The Annals of The American Academy of Political and Social Science 598, p. 12-32Abstract: This article analyzes the rise and diffusion of the new orderof regulatory capitalism. It offers an analytical and historical analysis of relations between capitalism and regulation and suggests that change inthe governance of capitalist economy is best captured by reference to (1) a new division of labor between state and society (e.g., privatization) , (2) an increase in delegation, (3) proliferation of new technologies of regulation, (4) formalization of interinstitutional and intrainstitutional arrangements of regulation, and (5) growth in the influence of experts in general, and of international networks of experts in particular. Regulation, though not necessarily directly by the state, seems to be onthe increase despite efforts to redraw the boundaries between state and society.
This article analyzes the rise and diffusion of the new orderof regulatory capitalism. It offers an analytical and historical analysis of relations between capitalism and regulation and suggests that change inthe governance of capitalist economy is best captured by reference to (1) a new division of labor between state and society (e.g., privatization) , (2) an increase in delegation, (3) proliferation of new technologies of regulation, (4) formalization of interinstitutional and intrainstitutional arrangements of regulation, and (5) growth in the influence of experts in general, and of international networks of experts in particular. Regulation, though not necessarily directly by the state, seems to be onthe increase despite efforts to redraw the boundaries between state and society.
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