Regulatory capitalism and financial disorders.
October 19, 2016
By Jacint Jordana
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The most significant question for the twenty-first century, to my understanding, is the worldwide struggle between regulatory capitalism and financial disorders.
In recent decades, globalisation has become an omnipresent reality, transforming multiple social and economic dynamics at the local and national levels in most parts of the world, and also has created new global risks.
These transformations have raised new political problems that often have a multi-level nature, and require sophisticated forms of governance to deal with, but resistance to policy changes is also enormous.
AAmong these problems, we find the most critical one the tremendous benefits the global finance industries obtain from political-economy turbulences and idle regulatory frameworks. Such state of affairs will persist over the twenty-first century, as it provides great incentives to the world financial community, but will be also challenged by the collective action of multiple actors trying to make capitalism sustainable, by means of stronger regulatory governance.
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