The financial crisis of 2008–9 and the ‘Great Recession’ that it precipitated highlighted a number of troubling dynamics in contemporary capitalism. Rising financial instability has received particular attention (Obstfeld and Rogoff 2009), as have other social problems such as trends of increased economic inequality (Manning 2011). For many observers, these problems have revealed serious weaknesses in systems of national, regional and global market governance that are linked to the rise of market liberal ideology and a set of and associated policies and practices (Abdelal and Ruggie 2009). The crisis has been heralded as an opportunity for change that would ‘embed’ markets in public control, establishing new institutional forms that better embody norms of stability, equality, and justice (Sen 2009).
|Title of host publication||New Visions for Market Governance: Crisis and Renewal|
|Editors||Kate Macdonald, Shelley Marshall and Sanjay Pinto|
|Place of Publication||Abingdon, Oxon|
|Publisher||Routledge, Taylor & Francis Group|
|Publication status||Published - 2012|