ln the beginning of the 90's, a wave of global optimism created a general conviction based on the idea that humanity had reached the top of universal peace, through the multiplication of democratic regimes and market economies. The article explores the hypothesis that, contrary to dominant expectations, the peripheral societies under liberal adjustment face new conditions of democratic instability and ungovernability, produced by the submission of their internal deciding process to the will of social actors, economic agents and external governments, non-elected or responsible for these societies. To sum up, the article deals with the hypothesis that there is a growing contradiction in this end of century, between the process of globalization and democratic consolidation of the capitalist periphery.
Globalization; governability; democracy