chapter  5
31 Pages

A Global Money-Trade-Production Mode of Regulation?

This chapter1 examines the third aspect of the Global System of Power and Accumulation: the degree to which a new global mode of regulation (MOR) has emerged which may help to promote long wave upswing in the world economy. A series of institutional proxies are employed in this chapter. Attention is given to the systemfunctions of global productivity and demand, through the performance of the prevailing system of production-distribution (SPD); global financial stability, proxied by the operations of the International Monetary Fund (IMF); and global conflict resolution over trade issues, proxied through the workings of the World Trade Organization (WTO).