Markets, Governments, Communities and Global Governance

Abstract

In this article the author introduces the argument by stating what should be changed in our sociological perspectives, stressing the contradictory character of the social world in the 21st century as a single system and a fragmented world, and identifying global integration and global governance as key problematic questions. He then addresses these questions from a sociological perspective, updating existing theories and discussing the role of markets, government organizations and communities as institutional mechanisms of social integration and governance of the world system. More specifically, he examines: (1) international markets and transnational corporations (TNCs) as institutions that operate largely, although not exclusively, according to the exchange principle; (2) nation-states, international organizations, and supranational unions as institutions that operate largely, although not exclusively, according to the legitimate authority principle; and (3) collective movements and epistemic communities as institutions that operate largely, although not exclusively, according to the solidarity principle. Finally, the author explains his notion of democratic global governance and analyses the main factors favouring or hindering peaceful integration and democratic governance at the world level.