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John Mikler, Neoliberal Globalization and the Rise of Private Global Regulation, International Studies Review, Volume 16, Issue 1, March 2014, Pages 119–122, https://doi.org/10.1111/misr.12068
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The concept of globalization, and the literature in respect of it, has been driven by the observation that an integrated world economy means that governance is increasingly exercised either impersonally by markets or by nonstate market actors such as multinational corporations. Rather than the liberalism that was embedded in international organizations such as the International Monetary Fund and World Bank post–World War II by states, and a liberal agenda that states themselves promoted, the ideology and reality of neoliberal globalization is said to have created a world in which states are no longer in charge. This is the basic starting point for most students and many scholars of international political economy, and the reason why it is now often more fashionably known as global political economy. It is basic, in the sense that it is of course much contested. Since the initial somewhat shrill pronouncements of what are now regarded as the hyper-globalists, the majority of the globalization literature now concentrates on the manner in which authority, and perhaps sovereignty, is increasingly shared between state and nonstate actors, and the manner in which governance is “transformed” as a result from something primarily the preserve of states to a more complex endeavor (for example, see Martell 2007). Hence national, regional, and global governance is a matter of recognizing the complex interdependence that characterizes an interconnected world of state and nonstate actors. It is to the debates surrounding this that these two very worthy, though very different, books make their contributions.
