Chapter

Consequences of Quasi-Constitutionalization for the Global Regulatory Agenda and the Fate of the Rule of Law

Grahame F. Thompson

in The Constitutionalization of the Global Corporate Sphere?

Published in print October 2012 | ISBN: 9780199594832
Published online January 2013 | e-ISBN: 9780191746079 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199594832.003.0006
Consequences of Quasi-Constitutionalization for the Global Regulatory Agenda and the Fate of the Rule of Law

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This chapter turns to the overall global governance and regulatory consequences of the analyses conducted in the previous chapters. Such governance implications are pursued mainly in the context of external regulatory governance by public authorities. It takes a line derived very much from the previous discussions and arguments: the surrogate and rather unnoticed constitutional construction that is going on somewhat surreptitiously without being fully recognized as such. A matrix of possible forms of ‘legal global order’ (public and private based) are outlined and their strengths and weaknesses assessed. It asks some normative questions about the appropriateness and efficacy of commercial ‘quasi-constitutionalization’. Does this mean that market-based relations are finally displacing publicly promoted ones? Where does this leave the rule by law (RoL) at the international level? How seriously should we take these trends? The disquiet and unease with which one might view these developments are considered.

Keywords: global legal order; quasi-constitutionalization; global rule of law; rule by laws; principles versus rules; durable disorder

Chapter.  12325 words.  Illustrated.

Subjects: International Business

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