World market governance

Democratic capitalism or liberal democracy, as the successful marriage of convenience between market liberalism and democracy sometimes is called, is in trouble. The market economy system has become global and there is a growing mismatch with the territoriality of the nation-states. The functional global networks and inter-governmental order can no longer keep pace with the rapid development of the global market economy and regulatory capture is all too common. Concepts like de-globalization, self-regulation, and global government are floated in the debate. The alternatives are analysed and found to be improper, inadequate or plainly impossible. The proposed route is instead to accept that the global market economy has developed into an independent fundamental societal system that needs its own governance. The suggestion is World Market Governance based on the Rule of Law in order to shape the fitness environment for the global market economy and strengthen the nation-states so that they can regain the sovereignty to decide upon the social and cultural conditions in each country. Elements in the proposed Rule of Law are international legislation decided by an Assembly supported by a Council, and an independent Judiciary. Existing international organisations would function as executors. The need for broad sustained demand for regulations in the common interest is identified.

Level thesis:degree_level

thesis.doctoral

Grantor dc:publisher

Universität Potsdam

Year

2014

Author dc:creator

• Dahlsten, Ulf

Contributors dc:contributor

• Jaeger, Carlo

• Welt
• Wirtschaft
• Steuerung
• Finanz
• Markt
• global
• markets
• governance
• finance
• economy

Statement dc:rights

• Creative Commons - Namensnennung, Nicht kommerziell, Weitergabe zu gleichen Bedingungen 3.0 Deutschland

Repository record source_url

https://publishup.uni-potsdam.de/frontdoor/index/index/docId/6768

OAI identifier oai:identifier

oai:kobv.de-opus4-uni-potsdam:6768