The absence of socially accountable and democratic political governance at the global level has emerged as the fundamental weakness of the present world configuration. This absence has two consequences. Firstly, it reduces the ability of local, national and regional forms of political governance to have influence and control over economic, social and political events and processes. Secondly, it makes it impossible to reconcile the interests and operations of economic globalization (led by competing forces acting in search of the maximization of their profit and power) with the interests and operations of the globalization of human affairs (as represented by the comparatively weak international institutions of the emerging civil society, academia, labour and government). The result is, especially in the traditional parliamentary democracies, a fundamental crisis of legitimation for the state which is not compensated by the increase in legitimation of the new forms of economic world governance based on liberalized and deregulated market forces.