Regulatory capitalism suggests that the operation maintenance and development of the international political economy increasingly depends on administrative rules outside the legislatures and the courts.
The general trend despite and beyond the process of liberalization is that of growth rather than decline of regulation. Deregulation may represent trends in some industries (notably finance), but more regulation is the general trend beyond that characterize modern and post-modern capitalism alike.[1] Regulation in this interpretation is an instrument of organizations—states, business, civil and hybrid and is carried at all political arenas and levels.
The concept of regulatory capitalism serves as an alternative to concepts like financial capitalism, welfare capitalism, casino capitalism, developmental capitalism, risk capitalism, state capitalism and crony capitalism in an attempt to shed more light on capitalism as a polymorphous order.
See also
- Economic interventionism
- Mixed economy
- Regulated market
- Regulatory capture
- Regulatory economics
- Regulatory state
- Social democracy
References
- ^ Levi-Faur, David, The Global Diffusion of Regulatory Capitalism, The ANNALS of the American Academy of Political and Social Science, March 2005, vol. 598, no. 1, pp. 12–13.
Bibliography
- David Levi-Faur and Jacint Jordana Eds, The Rise of Regulatory Capitalism: The Global Diffusion of a New Order, The Annals of the American Academy of Political and Social Science Series.