Taming the Regulatory State incisively analyses the regulatory top-down regimes that are currently dominant and in crisis. Taking a critical perspective, the book offers an account of the inherent vulnerability of the regulatory state caused by one-sided economic thinking and the predominance of governing through hard regulation.
Regulatory governance is inclined to eliminate transparency and downgrades the importance of social forces. One striking case that exposes these underlying tensions is the activity of the state-run international investment funds. This volume sets the Norwegian Pension Fund - Global (formerly the Norwegian Petroleum Fund) into this context and shows how the attempt to regulate through ethical guidelines is an illuminating example of an effort, however imperfect, to revive politics and ethics in areas where the market focus usually obscures other considerations.
This state-of-the-art book will be invaluable for students and scholars of political science and political economy and will also provide an engaging read for civil servants and policymakers.
Noralv Veggeland, Professor of Social Science, Centre for Public Policy Innovation, Lillehammer University College, Norway and former Director, Nordic Regional Research Institute, Copenhagen/Stockholm
Contents: Preface 1. The Arrival of the Regulatory State - and its Exit? 2. Political Economy: The Background of the Regulatory State 3. Post-Stagflation Management Strategies 4. Taming Vulnerability and Organizational Dynamics 5. The Regulatory State: How Democratic Is It? 6. Social Capital in the Regulatory State: Nordic Lessons 7. Regionalization in the Regulatory State 8. Cross-border Regionalization in the Regulatory States of the North 9. A Case of Regulatory Taming in Norway: From Government Petroleum Fund to Ethical Pension Fund - Global References Index