Rethinking global market governance: Crisis and reinvention?

Abstract

The recent financial crisis and Great Recession have been compared to other historical moments during which significant shifts in regimes of market governance have occurred. Here, we engage with the pieces that follow in this special section of Politics & Society as we consider three dimensions along which global market governance might be transformed in the direction of greater democracy. First, given that problems of market governance often extend across national boundaries, enhanced intergovernmental coordination could play a key role in promoting the public interest. Second, broader country representation would help to ensure that the interests of different national publics are more fully addressed. Third, wider social participation would expand the definition of the public interest at both the national and global levels, allowing a range of social groups to enhance the quality of their representation by governments and IGOs, and to engage more directly in the project of market governance. Show more