Urban planning, regulation theory and institutionalism, the planner's role in the global economy after Fordism

In this paper regulation theory is examined as a suitable framework for understanding urban planning. The changing role of the planner is explored in the light of the changing mode of regulation in the global organisation of capitalism. A distinction is made between the space economy and the property economy, in both of which planning interventions are made. The question arises of what can now be regulated by local political institutions. It is argued that the regulation of accumulation is conducted largely through interactions between national governments and global institutions, whereas the regulation of distribution of the social product remains influenced by the varying political traditions of nations, and the interactions between national states and local governments. It is suggested that regulation theory could benefit from a more explicit connection with institutionalist political theory. I conclude that nothing short of a reconstruction of planning ideology is now necessary to maintain, under changed conditions, the progressive directions established in the first part of this century.