In this paper, I analyze libertarian discourse from the perspective of regulation theory, a~ a hegemonic ideology that underlies the emergence of a new mode of regulation. Within this general theoretical approach, I will also employ frames from regime theory as developed by international relations scholars, as well as the "epistemic community" approach from the same discipline. I want to suggest that free-market ideology could engender the emergence of rationalized global governance in order to maintain free trade, property rights, and other regulatory concerns of the emerging mode of accumulation, and that such a world state could conceivably extend liberalism's life by carrying liberalism to its extreme.