The question of who or what governs the global economy is a controversial question, not just about who or what, but what does it best? Many would say that financial markets govern the global economy and are best controlled if left to their own devices, allowing markets to grow freely with minimal political or governmental involvement, thus allowing the global economy to thrive. Others see the global economy as the result of political systems and institutions that regulate trade and markets, encouraging controlled growth, reducing the risk of market bubbles, manias and eventual market crashes, leading to large fluctuations in the global economy. Institutions such as the World Trade Organization or the World Bank aim to help countries with failing financial markets, and this allows economies to grow and remain stable, thus leading to an overall stronger global economy. I believe that although financial markets are the primary controllers of the global economy, they require political involvement to regulate these markets, to attempt to prevent major crashes and allow the markets to continue. Without political involvement, markets can be seen to function “too” freely and allow manias and large “bubbles” to form, which in turn cause market downturns. Government institutions have also enabled greater multinational and transnational exchanges, perhaps at the expense of a smaller domestic market, as argued by Peter Mooslechner, Helene Schuberth and Beat Weber in their book "The Political Economy of Financial Market Regulatory: The Dynamics of Inclusion and Exclusion, which states that “the State has become much more a facilitator of global market processes than a protector of internal market structures… middle of paper… not as separate, coexisting or even opposing units, but as interconnected and integral to each other". These regulatory bodies establish trade laws that make foreign markets more attractive to potential investors, and this allows transnational and multinational trade to achieve greater economic stimulation, while at the same time aiming to curb the dramatic effects that market crashes have on the the overall global economy. , while giving market actors the freedom to proceed with little bureaucracy and the freedom to trade in markets. To fix the current global economy, with the two aspects of the economy working together, not as two, would require a presumptuous effort on the part of markets and government actors to agree on what forms of regulation are necessary, while still allowing for a large degree of market freedom. separate entities, both with input into governing the global economy.