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Globalization, Nongovernmental

Processes of economic globalization under way since the early 1970s pose new regulatory dilemmas. The mismatch between global economic processes, on one hand, and national regulations, on the other, creates what Saskia Sassen aptly called a “regulatory fracture,” stemming from the fact that “economic processes diverge from the model for which extant regulations were designed” (1998: 155).

Economic Globalization and Governance

Debates about how to deal with such a regulatory fracture are today at the forefront of law and society research on globalization and have given rise to a host of regulatory experiments around the world. A growing number of sociolegal analyses and institutional experiments emphasize nongovernmental approaches to regulation, that is, forms of economic and political coordination in which private organizations—from corporations to civic associations—take on ...

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