Critical Theories Challenge the Normative Bases of Contemporary Global Economical Governance and Help to Imagine Progressive Alternatives

Abstract

This research explores how critical theory challenges the normative foundations of contemporary global economical governance, offering alternative visions for modern economy, democracy, and human rights. By exposing the hidden assumptions and power structures inherent in neoliberalism, realism, and cosmopolitanism, critical theory critiques the dominant paradigms that shape global politics and economy. It argues for a transformation towards more inclusive, pluralistic, and democratic forms of governance. Through a detailed examination of global institutions like the WTO, UN, and the Paris Agreement, the essay illustrates how these entities reflect and perpetuate global inequalities. Finally, it proposes alternative models that prioritise social and environmental sustainability, citizen participation, and respect for cultural diversity, aiming to inspire transformative change in global governance.