"We created a security bubble that has allowed governance to shoot up," General Gurganus said.
One of neoliberalism's more strident critics, Open Markets fellow and former congressional staffer Matt Stoller, recently wrote that neoliberalism "involves moving power from public institutions to private institutions, and allowing governance to happen through concentrated financial power....Financial markets flourish, real markets morph into mass distribution middlemen like Walmart or Amazon".
Her newest project, Democracy.Earth, launched last month and centres on smart contract technology, computer protocols that automatically execute the terms of a contract and will allow decentralised governance of any organisation – from cities to corporations; student unions to football teams.
"The role of P.B.G.C. is too crucial to allow its governance to slip through the cracks," Mr. Kohl said.
This is especially the case when polycentric governance allows for proximity of governance to the people, tailored to the specific circumstances of each community, and for checks and balances, small-scale learning and manipulations, multi-level discussions, competition of ideas and backup in case of failures at other levels (Brondizio et al. 2009).
An important issue addressed in the volume is whether urban low carbon transitions need top-down government policy approaches or rather alternatives that allow for situative governance by empowering community-led initiatives.
This is where China has a distinctly clear advantage: Its transitioning methods of governance allow it to quickly disseminate changes in its ever-growing marketplace.
More recent studies point to the fact that businesses also exercise structural power by self-regulation and public-private partnerships; these types of governance allow business actors to actively set rules, for example, for the "sustainable" production of biofuels at the expense of state actors [42, 48].
Rules, that would broaden the concept of sovereignty to allow trans border governance over markets.
