Sääntelyteoria

Sääntelyteoria, or regulation theory, is a school of economic thought that emerged in France in the 1970s. It analyzes the historical development of capitalism and its changing forms of regulation. The core idea is that capitalism does not operate chaotically but is structured by specific institutions and norms that provide stability for a period. These periods of stability are called "regimes of accumulation."

A regime of accumulation is characterized by a particular set of institutions and social practices that enable a relatively coherent and profitable expansion of capital. This includes the way wages are determined, the nature of competition, the role of the state, and dominant consumption patterns. For example, the post-World War II era in many developed countries is often described as a regime of "Fordism," characterized by mass production, standardized consumption, and strong labor unions.

However, these regimes eventually encounter contradictions and crises, leading to their decline. Sääntelyteoria argues that a transition period follows, during which new institutional arrangements are sought to establish a new regime of accumulation. This process is often marked by social conflict and uncertainty as different social forces struggle to shape the future regulatory framework. The theory emphasizes the role of social and political factors in economic development, moving beyond purely market-based explanations. It seeks to understand how economic systems are socially constructed and how they evolve over time through institutional change.