Regulating Globalization: Critical Approaches to Global Governance

While globalization is thriving, its consequences remain contradictory and controversial. Although it is an effective process in generating economic growth, it can also lead to an excessive concentration of wealth and, in some sectors, increasing inequalities within and between countries. A major explanation for such imbalances lies in regulation deficiences in economic, financial, commercial and environmental fields, due to unaccountable, undemocratic, inequitable and ineffective global governance.

The authors of this book offer critical historical and forward-looking analyses on current global governance and formulate proposals towards achieving a more accountable, transparent, participatory global governance system, together with an institutional architecture for regulating globalization that combines economic efficiency and social equity.

Emphasis is put on multi-level governance, underlining the relevance of regional governance as a link between local and global levels. A central argument in the volume is that the legitimacy of global governance is weak, and the way to make it more legitimate is to enhance the participation of State and non–State agents, give a strong role to statehood and democratic politics, and priority to public interest over private/corporate interests in global governance.