10.1177/0002716204273623 THE ANNALS OF THE AMERICAN ACADEMY QUICK READ SYNOPSIS: THE RISE OF REGULATORY CAPITALISM QUICK READ SYNOPSIS The Rise of Regulatory Capitalism: The Global Diffusion of a New Order Special Editors: DAVID LEVI-FAUR Australian National University and the University of Haifa and JACINT JORDANA Universitat Pompeu Fabra Volume 598, March 2005 Prepared by Herb Fayer (Consultant) DOI: 10.1177/0002716204273623 SECTION ONE: GLOBALIZATION AS A DIFFUSION PROCESS: THEORETICAL FRAMEWORK The Global Diffusion of Regulatory Capitalism David Levi-Faur, Australian National University and the University of Haifa This article looks at the rise and diffusion of regulatory capitalism. Regulation seems to be the wave of the future, and the current wave of regulatory reforms constitutes a new chapter in the history of regulation. Regulation is both a con- stitutive element of capitalism and the tool that moderates and socializes it. • It suggests that change in governance of capitalist economy is characterized by • a new division of labor between state and society (privatization); • an increase in delegation; • proliferation of new technologies of regulation; • formalization of regulation; and • growth in the influence of experts, especially international networks of experts. 200 ANNALS, AAPSS, 598, March 2005 Background Q R S by guest on February 1, 2016 ann.sagepub.com Downloaded from