Professor Mustafa Aydin, TOBB University of Economics and TechnologyA refreshing view from the European periphery, an original mirror of the Union's central challenges.
Professor Georges Prevelakis, University of Paris 1 – Panthéon-Sorbonne
Part two presents analytical reports on the developments of the regional integration processes in North America, Central Africa and Southeast Asia as well as on the treaty practice of the European Union. Part three covers the legal and political developments in major international organizations that deal with international economic law, namely the IMF, WCO, WTO, WIPO, ICSID and UNCTAD. Lastly, part four offers book reviews of recent works in the field of international economic law.
The chapters in this volume critically appraise the Commission’s proposals, including the most recent ones. The authors also highlight the repercussions of the proposed ‘more economic approach’ to abuses of dominant positions on private litigants’ opportunities to bring damages actions in national courts for such abuses.
The distinguished list of contributors includes James Buchanan, Charles Rowley, Dennis Mueller, Todd Sandler, Randall Holcombe, Michael Munger, Thomas Stratmann, Harold Mulherin, Lawrence Kenny, and Paul Rubin. Edited by two of the editors of the journal Public Choice and as fresh as today’s headlines, this volume positions the public choice literature in the context of current events and points its research agenda in new directions. It is a unique and indispensable collection of value to economists, political scientists, political philosophers, and public policymakers.
In this work, the lawyer and economist Klaus Mathis critically appraises Posner’s normative justification of the efficiency paradigm from the perspective of the philosophy of law. Posner acknowledges the influences of Adam Smith and Jeremy Bentham, whom he views as the founders of normative economics. He subscribes to Smith’s faith in the market as an ideal allocation model, and to Bentham’s ethical consequentialism. Finally, aligning himself with John Rawls’s contract theory, he seeks to legitimize his concept of wealth maximization with a consensus theory approach.
In his interdisciplinary study, the author points out the possibilities as well as the limits of economic analysis of law. It provides a method of analysing the law which, while very helpful, is also rather specific. The efficiency arguments therefore need to be incorporated into a process for resolving value conflicts. In a democracy this must take place within the political decision-making process. In this clearly written work, Klaus Mathis succeeds in making even non-economists more aware of the economic aspects of the law.
After every “boom” and “bust”, legislators pass new disclosure legislation, often in a heated environment fuelled by politics and the media. Little regard is paid to existing regulation or the lessons learned from earlier regulation. The result is the continuing enactment of redundant and overlapping disclosure laws. Since financial markets are often described as markets for information, the failure to ensure disclosure is at the heart of financial services regulation. This book argues that the solution to the failure of disclosure is a brief, easily understood, principles-based, plain English safety-net amendment to statute law such as “you must keep the financial market fully informed”, a measure that would support effective mandatory continuous disclosure of information to financial markets.
This book examines the reasons for disclosure regulation, and how the efficient operation of financial markets is dependent on disclosure. It examines the adequacy of common law and civil law concerning broker/client disclosure, and concludes that industry licensing in itself fails to keep the market informed. While recognizing the failures of securities commissions to achieve good disclosure in financial markets, it confirms the effectiveness of coregulation of disclosure by a commission with the support of the financial markets (such as the stock exchange). Coregulation builds on financial market self-regulation, and is best described in the words of one-time SEC Chairman William O. Douglas, who, in the 1930s, described it as a shotgun behind the door.
The Review contributes in a scholarly way to the discussion of these developments while being informative and having practical relevance to business people and lawyers. It also devotes a section to the Willem C. Vis International Commercial Arbitration Moot and publishes the memoranda prepared by teams coached by Professor Gabriël A. Moens.
The Review is edited at the Murdoch University School of Law in Perth, Australia. The Editors-in-Chief are Mr Roger Jones, Partner, Latham & Watkins LLP, Chicago and Gabriël A. Moens, Dean and Professor of Law, Murdoch Law School. It is an internationally-refereed journal. The Review is supervised by an international board of editors that consists of leading international trade law practitioners and academics from the European Union, the United States, Asia and Australia. The Student Editors for Volume XI are Adam Totaro and Peter Clay from the Murdoch Law School.
The book looks in detail at the intellectual property negotiations which formed part of the US-Peru and US-Colombia Free Trade Agreements and analyses the extent to which public health authorities and other parties affected by the increased levels of intellectual property protection were integrated into the negotiation process. The book then juxtaposes these findings with an analysis of the domestic origins of US negotiation objectives in the field of intellectual property, paying particular attention to the role of the private sector in the development of these objectives. Based on a substantial amount of empirical research, including approximately 100 interviews with negotiators, capital based policy-makers, private sector representatives, and civil society organisations in Lima, Bogotá and Washington, DC, this book offers a rare account of different stakeholders’ perceptions of the FTA negotiation process. Ultimately, the book succeeds in integrating the study of domestic politics with that of international negotiations.
This book will be of particular interest to academics as well as practitioners and students in the fields of international law, economic law, intellectual property, political economy, international relations, comparative politics and government.