• Summary
  • Contents

Key Concepts in Governance provides a clear introduction to the technical concepts and policies of contemporary governance through short definitional essays. Each entry features a snapshot definition of the concept, a contextualization of the concept,  an overview of relevant debates, and a guide to further reading. The book also includes a substantial introductory chapter which gives an overview of governance studies as a whole, orientating and guiding the reader around the issues that the concepts address. 

Regulation Theory
Regulation theory
Definition

Regulation theory is a Marxist approach to political economy. It examines how particular forms of capitalism achieve a temporary stability. Karl Marx famously argued that capitalism was inherently unstable: first, because it led to over-accumulation of capital and so periodic crises, and, second, because it generated an unstable set of social relations that resulted in class struggle. These instabilities would result, Marx added, in a working-class revolution to establish a communist society. Regulation theory focuses on the ways in which material, institutional, policy-driven, and discursive supports allow capitalism to ‘regulate’ its instabilities in order to ward off revolution.

The concern with the temporary stability of capitalism leads regulation theorists to explore its varieties across time and space. Several regulation theorists identified a Fordist ...

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