ABSTRACT
The financial crisis of 2008–09 and the “Great Recession” that it precipitated highlighted a number of troubling dynamics in contemporary capitalism. Rising financial instability has received particular attention (Obstfeld and Rogoff, 2009), as have other social problems such as trends of increased economic ine- quality (Manning, 2011). For many observers these problems have revealed serious weaknesses in systems of national, regional and global market govern- ance that are linked to the rise of market liberal ideology and a set of associated policies and practices (Abdelal and Ruggie, 2009). The crisis has been heralded as an opportunity for change that would “embed” markets in public control, establishing new institutional forms that better embody norms of stability, equal- ity, and justice (Sen, 2009).
