“…However, further questions arise and need addressing before judgement on this putative resurgence of the public domain, and some degree of trust in government, can be made:- How are states to confront a range of intractable issues flowing from the social/economic exclusionary consequences of globalization (Farazmand, 2002)?
- Is public authority exercising any supervisory role where there is no strong social or political values to combat those of profit and growth, now even more considerably enhanced through the theory of “Regulatory Takings” (Epstein, 1985), whereby multi‐national corporations sue the taxpayer, under NAFTA, if they believe public regulation has damaged corporate “future” profits? Citizens might wish to debate whether government, acting to protect public interest, should be compelled to pay multi‐nationals for limiting or “taking” future profits.
- The market place is currently privatizing “futures” through 30 to 80‐year partnership and franchise agreements, whilst “Informatic Liberalism” (Howe, 2002) involves the rolling back many government‐administered policies of regulation to accommodate, and entrench, economic models of action and stressing policy action ideologically independent of governance and/or re‐regulation.
- The understood dimensions and regulatory imperatives of the “Risk Society” (Beck, 1992) need further scrutiny in light of complexity and contingency introduced by globalization (MacDonald, 2002).
- How will the devolution of decision making flow from the local significance of globalization?
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