the mode of accumulation. Neoclassical economists (or economists of the school of rational anticipations) consider that all crises are exogenic. Endogenous crises are cyclical crises that are necessary and inevitable, for they make it possible to cancel imbalances accumulated during the phase of expansion without major deterioration of institutional forms. These crises are inseparable from the operation of capitalism. The crisis of the mode of regulation: unable to avoid a downward spiral, institutional forms and the ways the state intervenes in the economy must be modified. The best example is the crisis of 1929, where the free play of market forces and competition did not lead to a renewed phase of expansion. The crisis of the mode of accumulation means that it is impossible to continue long-term growth without major upheaval of institutional forms. The crisis of 1929 is the best example: the interwar period marks the passage from a mode of accumulation characterised by mass production without mass consumption to a mode incorporating both mass production and mass consumption. Current development Since the 1980s, the Regulation school has developed research at other socio-economic levels: firms, markets and branches studies (food and agriculture, automotive, banking…); development and local regions ("regulation, sectors and territories" research workshop); developing countries or developed economies others than France and USA (South Korea, Chile, Belgium, Japan, Algeria, etc.): political economy of globalization (diversity of capitalisms, politics and firms...). By doing so, its methods now range from institutional macroeconomics to discourses analysis, with quantitative and qualitative methods. Members of the Regulation School Michel Aglietta Alain Lipietz Robert Boyer Bob Jessop Jamie Peck André Orléan Christoph Scherrer Daniel Drache Matt Vidal See also Cybernetics Notes References Bob Jessop, Ngai-Ling Sum, Beyond The Regulation Approach: Putting Capitalist Economies In Their Place, Edward Elgar Publishing, 2006. Boyer, Robert, Saillard, Yves (Ed.), (2002), Régulation Theory. The State of the Art, Routledge, London & New-York. External links Revue de la Régulation/ Régulation Review. Capitalism, Institutions, Power Association Recherche & Régulation. Among others resources (working papers, research workshops, researchers networks, news..., note the 2015 international colloquium Research&Regulation "The theory of regulation in times of crisis" An overview of the Regulation School A scholarly blog on the Regulation School in Economic Thought An interview in which Alain Lipietz gives a brief introduction to Regulation Theory Article on Lipietz's approach to Regulation Theory A page containing some notes on the Regulation School's approach to Fordism,