ABSTRACT
Regulatory institutions of national welfare states designed to prevent or compensate negative market effects are being undermined by processes of globalization and deregulation (see Part III). Global regulatory regimes have yet to be established or are often ineffective, and there is good reason to believe their improvement or implementation will be long in coming. Effective control of privatization has been notably absent. In this context, new modes of governance based on self-regulation by non-governmental actors deserve exploration.
