The prospects of global governance depend on reaffirming the separation of private morals and public interests against the allures of all fundamentalisms. This path-breaking book expounds the idea of a disenchanted world composed of nation states and global functional systems. The nation state is losing some of its regulatory prerogatives and, at the same time, extending its legitimacy base in 'chains of legitimacy' to transnational institutions. There is neither a global democracy nor a global government. Therefore, establishing alternative forms of legitimacy, accountability and participation in a secular world seem mandatory. Helmut Willke examines the resurgence of moral reasoning in global affairs, driven by various fundamentalisms, that indicates a real danger of a regression of democracy. The separation of private morals and public policies, this book argues, remains the basis of global aspirations of democracy. Governance in a Disenchanted World takes into account globalization as a precondition for modern forms of governance and uses the global financial crisis to demonstrate the delusions of public morality and the virtues of democratic resilience. Researchers, lecturers and postgraduate students in the fields of political science, governance theory, global governance, sociological theory, political philosophy, legal studies, and global finance will find this essential book an invaluable resource.

This volume describes American and European reactions to the Japanese supremacy in core technologies, focussing on the emerging idea of economic national security and an active role of the state in mediating enabling technologies. The "Strategic Defense Initiative" (SDI), the U.S. semiconductor program SEMATECH, and the European R & D initiative EUREKA serve as case studies on how states try to promote knowledge-based technologies in strategically relevant areas. A theoretical chapter analyzes changes in stateness and an emerging new type of political economy within the context of globally-oriented international competition.

The global financial crisis has uncovered disastrous gaps in the governance of capitalism. This timely book argues for encompassing and intelligent forms of political governance of capitalism to mitigate against the possibility of future global systemic risk. This path-breaking book highlights that systemic risks emerge from a globally operating financial industry that is not only disconnected from the real economy but also allowed to hide in 'shadow banking' practices. Governance based on national regimes fails to cover 'finance-led' global capitalism. The authors argue that the risk of systemic meltdown will reappear unless intelligent governance regimes are installed, combining legally binding rules and civil society pressures to restore the balance between risk-taking and accountability. They illustrate the goal is 'resilient' capitalism in which the rules of the game are set by politics and knowledge-based discourse. Political Governance of Capitalism will prove invaluable for graduate and post-graduate students interested in economy, political science, political economy, globalization, global governance, sociology, and financial sciences.

In the wake of globalization, national governments are becoming increasingly interdependent, and knowledge is arguably becoming the most valuable form of capital. Helmut Willke's "Smart Governance" offers a new perspective on global governance from the vantage point of a global knowledge society.

Employing a case study of the global financial system and an analysis of several governance regimes, Willke contends that markets, legal systems, and morality must evolve to cope with uncertainty, build capacities, and achieve resilience. "Smart Governance" will change the way economists, historians, and political scientists view international cooperation.

The global finance system has been the subject of hot debate for several years. Major players such as the International Monetary Fund and the World Bank have come under fire for their financial practices, while the role of epistemic authorities, including rating agencies, remains unclear. This book systematically analyzes the role knowledge plays in global finance reform by considering its influence in the empirical areas of finance (banking, accounting, and bond rating, for example). As the contributors demonstrate, current institutional management strategies reflect a shift toward "cognitive," or learning-based modes of managing financial and political risks--and this cognitive thinking has its own consequences for the global marketplace.