The Imperative of the Social Bond after the Triumph of Markets
For the better part of the last two decades, market fundamentalism in its many formulations relied on markets as the ultimate gold standard against which all public policies were valued and compared. Today communities and regions are looking for stronger, more effective and more transparent public authorities unencumbered by and less subservient to unaccountable market forces. It has long been argued that markets should be embedded in social institutions, arrangements and practices. The two questions now at the front of the agenda are — is globalization likely to be embedded any time soon? And, how will globalization foster a just society?