Law Commons^™

Two Paradigms Of Jurisdiction, Ralf Michaels

Michigan Journal of International Law

Globalization causes convergence of legal orders. Or so it is argued. Law and economics scholars predict that legal orders will move towards the same efficient end state. They argue that the requirements of globalization will pressure legal orders to converge on the level of economic efficiency, because regulatory competition between legal orders makes it impossible for individual legal systems to maintain suboptimal solutions. Many comparative lawyers predict a similar convergence. In particular traditional functionalist comparatists have long held that unification of law was both desirable and unavoidable. Their basic argument is based on functional equivalence and can be summarized as …