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Late Capitalism

on competitive relations, individualism, and the fast buck socially, economically, and ecologically sustainable growth will be difficult to attain." In other words, Neoliberalism will never be able to be institutionalized as a sustainable regime of production due to its immense annihilative capacity.Therefore, as Peck and Tickell note, it is too early to champion a post-Fordist regime of accumulation since a coherent, sustainable form of social regulation has yet to stabilize. Neoliberalism is a bankrupt and potentially ruinous alternative. Regulation Theory holds that the apparent lack of a sustainable accumulation regime threatens social reproduction in numerous ways. This creates an imperative for a new set of regulatory practices which, unlike Fordisms discredited model of accumulation, must be tuned to the current status of the market. Global strategies and regulatory structures must become more prevalent and powerful, operating not within the laws dictated by Neoliberalism, but providing protection to nations, regions, and people from excessive fluctuations in trade and financial activity. "The essence of the after-Fordist regulatory problem is the age-old one of countering the destructive effects of competition." Accumulation must also resolve problems of environmental sustainability, as natural resources continue to dwindle at ever-increasing rates. Indeed, it would be foolish to predict how a global capitalist organization and mode of accumulation will look in twenty years capitalism continues to transform itself in surprising ways nevertheless, Regulation Theory is useful is in cautioning against the further ascendancy of Neoliberalism. Indeed, changes to the international regime of accumulation and mode of social protection must occur to realize a sustainable existence for all....

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