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regulation school
The regulation school ((フランス語:l'école de la régulation)) is a group of writers in political economy and economics whose origins can be traced to France in the early 1970s, where economic instability and stagflation were rampant in the French economy. The term ''régulation'' was coined by Frenchman Destanne de Bernis, who aimed to use the approach as a systems theory to bring Marxian economic analysis up to date.〔''The Regulation School: A Critical Introduction'' (Columbia University Press, 1990)〕 These writers are influenced by structural Marxism, the Annales School, institutionalism, Karl Polanyi's substantivist approach, and theory of Charles Bettelheim, among others, and sought to present the emergence of new economic (and hence social) forms in terms of tensions within existing arrangements. Since they are interested in how historically specific systems of capital accumulation are "regularized" or stabilized, their approach is called the "regulation approach" or "regulation theory". Although this approach originated in Michel Aglietta's monograph ''A Theory of Capitalist Regulation: The US Experience'' (Verso, 1976) and was popularized by other Parisians such as Robert Boyer,〔 its membership goes well beyond the so-called Parisian School, extending to the Grenoble School, the German School, the Amsterdam School, British radical geographers, the US Social Structure of Accumulation School, and the neo-Gramscian school, among others.
==The regulation approach==
Robert Boyer describes the broad theory as "The study of the transformation of social relations, which creates new forms- both economic and non-economic- organized in structures and reproducing a determinate structure, the mode of reproduction".〔''The Regulation School: A Critical Introduction'' (Columbia University Press, 1990), p. 17〕 This theory or approach looks at capitalist economies as a function of social and institutional systems and not just as government's role in the regulation of the economy, although the latter is a major part of the approach.
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