ID: |
TARP-153 |
Title: |
Legitimacy, Globally: the Incoherence of Free Trade Practice, Global Economics and Their Governing Principles of Political Economy |
Source: |
69 UMKC L. Rev. 733 |
Parties: |
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Dispute Resolution Organ: |
|
Year: |
2001 |
Pages: |
47 |
Author(s): |
Michael H. Davis, Dana Neacsu |
Keywords: |
capitalism, comparative advantage, free trade, globalization, governance, intellectual property, international trade, legitimacy, political economy, rule of law, subsidies |
Abstract: |
The law of comparative advantage legitimizes globalization and masks globalization’s deleterious impacts. The true nature of globalization has not been understood as a result. Domestically, legitimation is accomplished through the rule of law. With respect to international trade, globalization is the “legalized regime”, legitimized by the law of comparative advantage. Globalization internationalizes “brutally raw” capitalism through a process of legalization. Despite its claims to legitimation, globalization results in “disastrous global disparities in income and welfare” |
Secured: |
False |
Download Article: |
Available here |
Keywords: capitalism, comparative advantage, free trade, globalization, governance, intellectual property, international trade, legitimacy, political economy, rule of law, subsidies