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Anarcho-capitalism is a political philosophy and economic theory that advocates the elimination of centralized states in favor of a system of private property enforced by private agencies, free markets and the right-libertarian interpretation of self-ownership, which extends the concept to include control of private property as part of the self. In the absence of statute, anarcho-capitalists hold that society tends to contractually self-regulate and civilize through participation in the free market which they describe as a voluntary society. Anarcho-capitalists support wage labour and believe that neither protection of person and property nor victim compensation requires a state. In a theoretical anarcho-capitalist society, the system of private property would still exist and be enforced by private defense agencies and insurance companies selected by customers which would operate competitively in an open market and fulfill the roles of courts and the police.
Crony capitalism is an economic system in which businesses thrive not as a result of risk, but rather as a return on money amassed through a nexus between a business class and the political class. This is often achieved by using state power rather than competition in managing permits, government grants, tax breaks, or other forms of state intervention over resources where the state exercises monopolist control over public goods, for example, mining concessions for primary commodities or contracts for public works. Money is then made not merely by making a profit in the market, but through profiteering by rent seeking using this monopoly or oligopoly. Entrepreneurship and innovative practices which seek to reward risk are stifled since the value-added is little by crony businesses, as hardly anything of significant value is created by them, with transactions taking the form of trading. Crony capitalism spills over into the government, the politics, and the media, when this nexus distorts the economy and affects society to an extent it corrupts public-serving economic, political, and social ideals.
Regulation is the management of complex systems according to a set of rules and trends. In systems theory, these types of rules exist in various fields of biology and society, but the term has slightly different meanings according to context. For example:
In international development, good governance is a way of measuring how public institutions conduct public affairs and manage public resources in a preferred way. Governance is "the process of decision-making and the process by which decisions are implemented ". Governance in this context can apply to corporate, international, national, or local governance as well as the interactions between other sectors of society.
Ecological modernization is a school of thought in the social sciences that argues that the economy benefits from moves towards environmentalism. It has gained increasing attention among scholars and policymakers in the last several decades internationally. It is an analytical approach as well as a policy strategy and environmental discourse.
Democratic capitalism, also referred to as market democracy, is a political and economic system that combines capitalism and strong social policies. It integrates resource allocation by marginal productivity, with policies of resource allocation by social entitlement. The policies which characterise the system are enacted by democratic governments.
Governance comprises all of the processes of governing – whether undertaken by the government of a state, by a market, or by a network – over a social system and whether through the laws, norms, power or language of an organized society. It relates to "the processes of interaction and decision-making among the actors involved in a collective problem that lead to the creation, reinforcement, or reproduction of social norms and institutions". In lay terms, it could be described as the political processes that exist in and between formal institutions.
In general, compliance means conforming to a rule, such as a specification, policy, standard or law. Regulatory compliance describes the goal that organizations aspire to achieve in their efforts to ensure that they are aware of and take steps to comply with relevant laws, policies, and regulations. Due to the increasing number of regulations and need for operational transparency, organizations are increasingly adopting the use of consolidated and harmonized sets of compliance controls. This approach is used to ensure that all necessary governance requirements can be met without the unnecessary duplication of effort and activity from resources.
Global governance or world governance is a movement towards political cooperation among transnational actors, aimed at negotiating responses to problems that affect more than one state or region. Institutions of global governance—the United Nations, the International Criminal Court, the World Bank, etc.—tend to have limited or demarcated power to enforce compliance. Global governance involves multiple states, as well as international organizations, with one state having more of a lead role than the rest. The modern question of world governance exists in the context of globalization and globalizing regimes of power: politically, economically and culturally. In response to the acceleration of worldwide interdependence, both between human societies and between humankind and the biosphere, the term "global governance" may name the process of designating laws, rules or regulations intended for a global scale.
A regulatory agency is a public authority or government agency responsible for exercising autonomous authority over some area of human activity in a regulatory or supervisory capacity.
Regulatory capitalism suggests that the operation maintenance and development of the international political economy increasingly depends on administrative rules outside the legislatures and the courts.
Cary Coglianese is the Edward B. Shils Professor of Law and professor of political science at the University of Pennsylvania Law School, where he is also director of the Penn Program on Regulation.
Environmental governance is a concept in political ecology and environmental policy that advocates sustainability as the supreme consideration for managing all human activities—political, social and economic. Governance includes government, business and civil society, and emphasizes whole system management. To capture this diverse range of elements, environmental governance often employs alternative systems of governance, for example watershed-based management.
The commodification of water refers to the process of transforming water, especially freshwater, from a public good into a tradable commodity also known as an economic good. This transformation introduces water to previously unencumbered market forces in the hope of being managed more efficiently as a resource. The commodification of water has increased significantly during the 20th century in parallel with fears over water scarcity and environmental degradation.
Command and Control (CAC) regulation finds common usage in academic literature and beyond. The relationship between CAC and environmental policy is considered in this article, an area that demonstrates the application of this type of regulation. However, CAC is not limited to the environmental sector and encompasses a variety of different fields.
However, by the end of the 20th and beginning of the 21st centuries, there was an explosive growth in China's economy. New government policies encouraged the privatisation of agriculture, the wholesale urbanisation of China's rural population, the development of tens of thousands of small-scale rural industries and an influx of international investment. The results have been staggering: hundreds of millions of Chinese have been lifted out of poverty; China's economy continues to grow at a rate of 8–12 per cent annually, as it has for two decades and by the end of 2005, China was the fourth largest economy and third largest exporting nation in the world, after the United States and Germany. Nevertheless, China's environment paid a steep price for this economic growth. Water pollution, air pollution, and soil degradation pose enormous threat to ecosystems and human health. However, these issues are being taken seriously by the Chinese government and are now being incorporated into policies and plans at the highest level.
Market governance mechanisms (MGMs) are formal, or informal rules, that have been consciously designed to change the behaviour of various economic actors. This includes actors such as individuals, businesses, organisations and governments - who in turn encourage sustainable development.
Technoliberalism is a political philosophy founded on ideas of liberty, individuality, responsibility, decentralization, and self-awareness. It also highlights an idea that technology should be available to everyone with minimal controls. Its core beliefs fit under five main interests that include Construction of the Government, Economics, Civil Liberties, Education and Science, and Environment. Technoliberals support such ideas as balance of powers in the government, decentralization, affordable education, the protection of our planet, Fine Arts, and the freedom of speech and communication technologies.
Anti-statism is any approach to social, economic or political philosophy that rejects statism. An anti-statist is one who opposes intervention by the state into personal, social and economic affairs. In anarchism, this is characterized by a complete rejection of all hierarchical rulership.
Sustainable capitalism is a conceptual form of capitalism based upon sustainable practices that seek to preserve humanity and the planet, while reducing externalities and bearing a resemblance of capitalist economic policy. A capitalistic economy must expand to survive and find new markets to support this expansion. Capitalist systems are often destructive to the environment as well as certain individuals without access to proper representation. However, sustainability provides quite the opposite; it implies not only a continuation, but a replenishing of resources. Sustainability is often thought of to be related to environmentalism, and sustainable capitalism applies sustainable principles to economic governance and social aspects of capitalism as well.
References
- ↑ Levi-Faur, David, "The Odyssey of the Regulatory State – Episode One: The Rescue of the Welfare State", Jerusalem Papers in Regulation & Governance, Paper No. 39, November 2011.
- ↑ Giandomenico Majone (1997). From the Positive to the Regulatory State: Causes and Consequences of Changes in the Mode of Governance. Journal of Public Policy, 17, pp 139-167 doi:10.1017/S0143814X00003524
- ↑ Ian McLean (2004). The history of regulation in the United Kingdom: three case studies in search of a theory, in J. Jordana and D. Levi-Faur eds, The Politics of Regulation: institutions and regulatory reforms for the age of governance (Cheltenham: Edward Elgar 2004), pp. 45-66. ISBN 1 84376 464 4
- ↑ anarcho-capitalism
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