Beyond Rationality: A Sociological Construction Of The World Trade Organization,
2012
IIT Chicago-Kent College of Law
Beyond Rationality: A Sociological Construction Of The World Trade Organization, Sungjoon Cho
All Faculty Scholarship
This Article critiques the rational-institutional analysis of the World Trade Organization (WTO) that Gregory Shaffer and Joel Trachtman present, and proposes an alternative “sociological” framework. The Article notes that rationalism, although a powerful heuristic of the WTO’s operation, inevitably overlooks the WTO’s rich social dimensions and thus leaves behind several theoretical blind spots, such as the lack of any satisfying explanation on institutional evolution and development concerns. In an attempt to address these blind spots, the Article offers a sociological-communitarian paradigm that emphasizes cognitive elements, such as ideas, norms, and discourse, to explain the social dynamic within the WTO. Under …
What Is Competition?,
2012
University of Tennessee College of Law
1 Vol., 1 Issue, Table Of Contents - In The Balance,
2012
Cleveland State University
1 Vol., 1 Issue, Table Of Contents - In The Balance, Global Business Law Review
In the Balance
No abstract provided.
Dodd-Frank And Basel Iii’S Skin In The Game Divergence And Why It Is Good For The International Banking System ,
2012
PricewaterhouseCoopers, LLC
Dodd-Frank And Basel Iii’S Skin In The Game Divergence And Why It Is Good For The International Banking System , Eric Thompson
Global Business Law Review
The recent financial collapse has illuminated many problems with the global financial system. One of these problems was that the financial system developed in a way that allowed banks to profit by simply making more loans instead of quality loans. After the financial collapse, regulators scrambled to enact new legislation to better manage the financial system and avoid the problems that caused the collapse. One way in which regulators attempted to improve the system was to remove the ability of banks to generate limitless loans in which the banks had no stake. Two such pieces of regulation, the Dodd-Frank Wall …
Can Chinese Migrants Bolster The Struggling Economies Of Europe?,
2012
University of Cincinnati College of Law
Can Chinese Migrants Bolster The Struggling Economies Of Europe?, Felix B. Chang
Faculty Articles and Other Publications
This article examines new Chinese migration into Europe during a period of economic stagnation - more specifically, the movement of Zhejiangese merchants in Southeast Europe. The Zhejiangese migration pattern is diversifying from a predominantly petty merchant phenomenon to include the sophisticated operations of large-scale investors. It is therefore in the interests of host countries to foster, rather than restrict, this progression toward institutionalization. As such, governments should shape immigration and antidiscrimination policies to harness the potential of these migrants.
Be Careful What You Wish For: Thoughts On A Compliance Defense Under The Foreign Corrupt Practices Act,
2012
Wayne State University
Be Careful What You Wish For: Thoughts On A Compliance Defense Under The Foreign Corrupt Practices Act, Peter J. Henning
Law Faculty Research Publications
No abstract provided.
Reforming Wto Discipline On Export Duties: Sovereignty Over Natural Resources, Economic Development And Environmental Protection,
2012
Wayne State University
Reforming Wto Discipline On Export Duties: Sovereignty Over Natural Resources, Economic Development And Environmental Protection, Julia Ya Qin
Law Faculty Research Publications
The current World Trade Organization (WTO) regime on export restraints comprises two extremes: at one end is the near-complete freedom to levy export duties enjoyed by most Members, which renders theWTO discipline on export restrictions largely ineffective; at the other end, the rigid obligations imposed on several acceding Members prohibiting the use of export duties for any purpose.The recent WTO ruling in China-Raw Materials has only solidified the latter extreme. This article seeks to expose the irrationality of the current regime, especially the problems created by the rigid obligations of the several acceding Members. It contends that such obligations deprive …
Value Divergence In Global Intellectual Property Law,
2012
Florida International University College of Law
Value Divergence In Global Intellectual Property Law, J. Janewa Oseitutu
Faculty Publications
It is a challenge for the United States to adequately protect the interests of its intellectual property industries, especially when U.S. interests are not in line with the social, cultural, and economic goals of other nations. Yet, as a major exporter of intellectual property protected goods, the U.S. has an interest in negotiating effective international intellectual property agreements that are perceived to be legitimate by the state signatories and their constituents. Focusing on value divergence, this article contributes to the growing body of literature on developing a robust but flexible global intellectual property system, arguing that the trade-based approach to …
The European Commission Wants The Financial Sector To Pay,
2012
Cleveland State University
The European Commission Wants The Financial Sector To Pay, T. Christina Colosimo
In the Balance
No abstract provided.
Toa Kitu Kidogo: Corruption In East Africa ,
2012
Cleveland State University
Toa Kitu Kidogo: Corruption In East Africa , Erika Franz
In the Balance
Toa kitu kidogo‖ or ―give a little something‖ is often heard in East Africa, where bribes are commonplace. From a traffic stop to picking up a package at the customs window in the post office, individuals can expect to add on a few shillings or francs for the ―cost of doing business.‖ But corruption has far darker consequences; it erodes the social fabric of a society, stifling its opportunities for growth, dissolving faith in the government, and preventing substantive rule of law and good governance. Corruption, defined broadly, conveys a lack of accountability for government decisions, consequences for illegal actions, …
Table Of Contents,
2012
Cleveland State University
One Last Shot At The Byrd: Skf Usa, Inc. V. U.S. Customs & Border Protection Should Not Foreclose As-Applied Constitutional Challenges To The Byrd Amendment,
2012
The Catholic University of America, Columbus School of Law
One Last Shot At The Byrd: Skf Usa, Inc. V. U.S. Customs & Border Protection Should Not Foreclose As-Applied Constitutional Challenges To The Byrd Amendment, Jessica M. Forton
Catholic University Law Review
No abstract provided.
A Reflection On Financial Markets, 1 J. Marshall Global Mkt. L.J. 1 (2012),
2012
UIC School of Law
A Reflection On Financial Markets, 1 J. Marshall Global Mkt. L.J. 1 (2012), Leo Melamed
John Marshall Global Markets Law Journal
In 1972 the International Monetary Market (the “IMM”) was launched in order to provide the financial world the same ability as the agriculture industry to manage risk. At the time, no one knew if the IMM would succeed, have any merit, or be accepted by other members of the financial world. The IMM’s commencement was before the age of technology—before the onset of computers. Once computers existed, financial engineers had the ability to electronically allocate risk and the world began to acclimate to the idea of computer-generated financial derivatives. This Article stresses that full disclosure and transparency is dire in …
Product Innovation, Clearing, And Competition Among U.S. Derivatives Exchanges, 1 J. Marshall Global Mkt. L.J. 3 (2012),
2012
UIC School of Law
Product Innovation, Clearing, And Competition Among U.S. Derivatives Exchanges, 1 J. Marshall Global Mkt. L.J. 3 (2012), Michael Gorham
John Marshall Global Markets Law Journal
Futures traders are attracted to market liquidity—the ability to buy and sell without the transaction having a large impact on market price. Market liquidity is associated with a large number of buyers and sellers and high average daily volumes of trading. This Article discusses the reluctance of futures traders to switch to a new exchange which does not have as much liquidity as an older, established exchange and the difficulty that these new exchanges face in acquiring even a marginal portion of the market share. These difficulties arise because these exchanges choose to use a clearing house that they own …
The Matryoshka Doll Principle: Transparent Governance Obligations Of Finra Remain Safely Nested Within The Layers Of Existing Securities Regulation, 1 J. Marshall Global Mkt. L.J. 13 (2012),
2012
UIC School of Law
The Matryoshka Doll Principle: Transparent Governance Obligations Of Finra Remain Safely Nested Within The Layers Of Existing Securities Regulation, 1 J. Marshall Global Mkt. L.J. 13 (2012), Brittany Mcintosh
John Marshall Global Markets Law Journal
This Article compares the U.S. Supreme Court’s holding in Free Enterprise Fund v. PCAOB to the factors used in Lebron v. National Railroad Passenger Corp. when determining whether a corporation is part of the government (and consequently subject to government control and the President’s removal powers). In Free Enterprise, the U.S. Supreme Court considered factors to determine whether or not an agency is a self-regulatory organization (an independent third party agency that is not subject to government control). Under the Free Enterprise test, the Court held that PCAOB was not an SRO (unlike the Financial Industry Regulatory Authority, Inc.) because …
Maybe There Is More Than One Reason They Call It A Derivative Lawsuit – The Implicit Corporate Duty To Hedge, 1 J. Marshall Global Mkt. L.J. 29 (2012),
2012
UIC School of Law
Maybe There Is More Than One Reason They Call It A Derivative Lawsuit – The Implicit Corporate Duty To Hedge, 1 J. Marshall Global Mkt. L.J. 29 (2012), Joseph Michael Reyes
John Marshall Global Markets Law Journal
Derivatives became the primary scapegoat after the financial markets crashed in 2008 and many large investment banks collapsed in the aftermath. Derivatives were thought to be far too risky and not transparent, even though derivatives were originally contrived in order to mitigate risk. Contrary to popular opinion, if used properly, derivatives are very effective in the mitigation of price changes, currency exchange, and interest rate risk. Moreover, the current regulatory landscape encourages the use of derivatives to hedge risk. The current financial environment encompasses the widespread use and acceptance of products that allow hedging to be a common trade practice. …
Dodd-Frank Whistleblower Program: Whistleblower Prevention Strategies, Criticisms, And Future Implications, 1 J. Marshall Global Mkt. L.J. 59 (2012),
2012
UIC School of Law
Dodd-Frank Whistleblower Program: Whistleblower Prevention Strategies, Criticisms, And Future Implications, 1 J. Marshall Global Mkt. L.J. 59 (2012), Florence Shu-Acquaye
John Marshall Global Markets Law Journal
Section 922 of the Dodd-Frank Wall Street Reform and Consumer Protection Act authorized the SEC to create a committee that would be responsible for promulgating and enforcing rules to reward whistleblowers. Such rewards are to be paid from the Investor Protection Fund, which is embodied in SEC Rule 21F. The whistleblower provision is meant to promote corporate whistleblowing by incentivizing the prevention of financial abuse. Critics contend, however, that the whistleblower program fails to encourage corporations to strengthen internal compliance programs; instead, corporations will put more effort into whistleblower prevention strategies in order to prevent SEC enforcement actions. SEC Rule …
Unlike In Iraq And Afghanistan, The U.S. Appears To Be Taking A Hands Off Approach To Libya ,
2012
Cleveland State University
Unlike In Iraq And Afghanistan, The U.S. Appears To Be Taking A Hands Off Approach To Libya , Paul Shugar
In the Balance
No abstract provided.
Fairness In International Economic Law And Relations,
2012
The University of Western Ontario
Fairness In International Economic Law And Relations, Chios Carmody
Law Publications
The idea of fairness is a recurrent one in international economic law and relations. By and large, however, commentators have failed to provide a structured understanding for this vital concept or explain its reflection in legal rules. This article proposes a theory of fairness as part of a broader theory of justice, suggesting that fairness is a part of justice, but not the whole of it. Rather, justice may be thought of as a combination of equality plus fairness (i.e. justice = equality + fairness), with the proviso that in any complex system of legal rules, equality must be greater …
Penalty Clauses And The Cisg,
2012
Touro Law Center
Penalty Clauses And The Cisg, Jack Graves
Scholarly Works
Commercial agreements often provide for “fixed sums” payable upon a specified breach. Such agreements are generally enforced in civil law jurisdictions. In contrast, the common law distinguishes between “liquidated damages” and “penalty” clauses, enforcing the former, while invalidating the latter as a penalty. The UN Convention on Contracts for the International Sale of Goods (CISG) does not directly address the payment of “fixed sums” as damages, and the validity of “penalty” clauses has, traditionally, been relegated to otherwise applicable domestic national law under CISG Article 4. This traditional orthodoxy has recently been challenged—suggesting that the fate of a penalty clause …
