Law Commons^™

Is High-Finance An Extractive Sector?, Saskia Sassen

Indiana Journal of Global Legal Studies

The article examines some of the key features of high finance (henceforth, simply finance) from the angle of the mix of capabilities that constitute the sector. It has a radically different organizing logic from that of, for instance, the typical mass consumer-oriented corporation. The article posits that finance has de-bordered the narrowly defined notion of finance as simply "financial firms and markets." It emphasizes its capacity to financialize a growing range of material and non-material elements. This has also meant that the sector by now encompasses a very broad range of financial and nonfinancial institutions, different types of jurisdictions, a …

Lawyers In Africa: Brokers Of The State, Intermediaries Of Globalization - A Case Study Of The "Africa" Bar In Paris, Sara Dezalay

Indiana Journal of Global Legal Studies

Africa is the "Global Economy's Last Frontier"! Images of the African continent as a boon of mineral riches, and a new legal Far West pervade media and scholarly accounts. Yet, these images tend to reflect the protracted political and development dependency of African states, with lawyers involved in corporate dealings on the continent either denounced as mercenaries at the service of neo-colonial "looting" or idealized as missionaries of the rule of law. This article suggests a research strategy that moves away from these ideological and political accounts. It uses lawyers' trajectories and professional strategies as an entry-point to reglobalize the …

Rivals In Arms: Sino-U.S. Cooperation, Problems, And Solutions And Their Impact On The International Uav Industry, Bei-Er Cheok

Indiana Journal of Global Legal Studies

Research and development into drone technology has exploded in the United States in the recent decades. From the operation of killer drones in the military to agricultural survey drones in farms, the proliferation of drone technology is well on its way to radically altering the American future. However, there remains numerous laws, policies, and regulations that place stifling restrictions on drone development and operations in America. Halfway across the world, China has also begun to experience the "drone revolution," but with its relatively laxer laws regarding both commercial and public drone operations and manufacturing, it seems poised to surpass the …

The Inevitable United States Adoption Of Ifrs: How And Why The United States Should Be Prepared, Erika M. Tribuzi

Indiana Journal of Global Legal Studies

In an age where technology makes the world smaller and business transactions happen by the microsecond, both private and public entities have utilized global standards. These standards are often voluntary and span many different industries. In the twenty-first century, financial reporting standards have not been immune toward the pull for global uniformity. The International Financial Reporting Standards (IFRS) are a set of international financial reporting standards that countries can choose to adopt in full or in part. Currently, there are 143 countries that have adopted IFRS in some capacity. This Note addresses the voluntary nature of global standards in the …

How To Improve The Debt Ceiling To Fit A Partisan Government: A Global Examination Of Which International Solutions Excel, Sarah Love

Indiana Journal of Global Legal Studies

This Note explores the changing role the debt ceiling has played within the United States and considers how that role should be altered moving forward. The debt ceiling's history and its political connections are discussed as a backdrop to how the United States might alter the debt ceiling to limit both future government shutdown and political gridlock. This Note examines both domestic and international solutions to the debt ceiling problem with an emphasis on the latter. In particular, the Note focuses on the possible international solution of adopting a system similar to Denmark's debt ceiling, or adopting a high debt-to- …

Efficiency Or Power? The Rise Of The Shareholder-Oriented Joint Stock Corporation, Paddy Ireland

Indiana Journal of Global Legal Studies

This paper explores the attempts to depict the global rise to dominance of the shareholder-orientedj oint stock corporationa s largely economically determined and to portray these corporations as fundamentally 'rivate" in nature. By analyzing the economic nature of the joint stock companies (JSCs) that emerged in growing numbers in the nineteenth century, the historical construction of a corporate legal form to accommodate them, and the very different possible futures contained within their rise (one highly "financialized," the other increasingly "socialized'), the paper argues that special interests and power lie behind what is often dressed up as economic efficiency. Against this …

Public And Private Authority In A Global Setting: The Example Of Sovereign Debt Restructuring, Matthias Goldmann

Indiana Journal of Global Legal Studies

This article argues that the public-private distinction is essential for safeguarding individual autonomy and democracy. As the article shows at the example of sovereign debt restructuring, global governance has blurred the distinction between public and private actors, instruments, and processes, and this causes immediate risks for human rights and democracy. This raises the question how the public-private distinction can be maintained under the structural conditions of global governance. For that purpose, the article ventures to propose a definition of publicness for global governance inspired by discourse theory. It argues that whenever a community, defined by the prevalence of communicative action, …

The Globalization Of United States Debt: The Real Impact Of China's Rise As A Creditor State, Michael R. Myers

Indiana Journal of Global Legal Studies

In this Note, I seek to answer a simple question: By owning a large quantity of United States debt, can a foreign country influence United States policies at home or abroad? To answer, I apply scholarship in financial leverage theory to China-the largest foreign holder of U.S. debt. As a result, I find no plausible threat of China using financial leverage against the United States.

Instead, I argue that the true impact of China's rise as a creditor state has been its ability to fundamentally undervalue its currency by investing in the sovereign debt of foreign nations. Such monetary policies …