By Stephen Gill

Globalization consists of structural alterations in kinds of kingdom, society and tradition, ecology and political financial system and in ethics and expectancies. during this assortment, globalization and multilateralism are associated with questions of epistemology, ontology, and approach. Epistemology includes severe wondering of the character of information and its foundations. Ontology matters the numerous components in worldwide political financial system. procedure contains how one can stream international affairs from its current in the direction of normative pursuits enunciated within the MUNS programme, with a purpose to advertise collective skill to channel structural switch in a extra democratic direction.

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No doubt, further careful research is required to reconstruct in detail this political struggle over economic regulation. However, a number of central propositions can be made. First, although the wage earner fund proposal of 1976 was promising in terms of making the social welfare expansions compatible with Magnus Ryner 41 economic regulation and accumulation, it clearly went beyond the 'social welfare' discourse which cemented the post-war Swedish power bloc. By challenging private ownership of the means of production, the wage earner funds opened up latent divisions within the SAP regarding the transformation from capitalism to socialism.

The Bretton Woods system (based upon US capability to provide international liquidity) ensured a fixed exchange rate regime and norms governing capital flows. It created a 'double screen' which provided a guarantee for a balance of international and domestic economic activity at close to full employment. 2 As a result, NorthNorth trade could flourish and ensure validation of the intensive accumulation regimes in the capitalist core. The South was maintained in a peripheral role, supplying primary commodities to the core.

14 Two main factors explain this. Firstly, the fledgling manufacturing sector suffered from the high raw material prices earlier than industries did in the other Nordic countries, because of the lack of a significant proportion of raw materials and semi-processed production in Danish industry. Secondly, the 'red and green waves' of the new left were accompanied by a particularly strong populist, hyper-liberal 'blue wave'. The rise of right wing populism led to a party realignment which facilitated an end to welfare reform and restrictive policies.

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