Allocating power and wealth in the global economy: the role of private law and legal agents
Cohen, Edward S., 1960- (2002) Allocating power and wealth in the global economy: the role of private law and legal agents. Working Paper. University of Warwick. Centre for the Study of Globalisation and Regionalisation, Coventry.
WRAP_Cohen_wp10102.pdf - Requires a PDF viewer such as GSview, Xpdf or Adobe Acrobat Reader
Official URL: http://www2.warwick.ac.uk/fac/soc/csgr/research/wo...
Over the past few years, scholars of global governance have paid increasing attention to the role of law and legalization in shaping the governance of global economic activity, focusing primarily on public international law and the institutions that articulate and enforce this law. In this paper, I shift the focus to the arena of private international law, particularly the dimension that concerns the rules by which global economic activity is ordered. Drawing on the literatures on the role of non-state actors and the practice of inter-governmentalism, I argue that private legal agents – the large U.S. and British law firms and their Continental competitors, the international commercial arbitration community, and managers of the major multinationals – play an increasingly important role in determining the rules of the global economic system and the relationship between global markets and the activities of states. The paper elaborates this argument in three sections. First, I describe and analyze the emergence of a transnational legal field in the context of the process of globalization, and offer an account of the institutions and actors – both public and private – that dominate this field. Second, I examine in detail the role of private legal agents in constructing and diffusing the norms that compete for influence in the transnational legal field. This section focuses on the role of private lawyers, and especially global corporate law firms, in the contemporary global political economy. Here, I argue that private lawyers should be seen as creative agents who have played an important role in articulating and disseminating neo-liberal norms throughout the transnational legal field. Third, I present sketches of two case studies of legal change in the transnational arena to illustrate the importance of private legal agents in the global political economy, and assess the importance of this process for future research on the legal and political dimensions of globalization. In these cases – the emergence of the GATS and TRIPS accords as part of the Uruguay Round of GATT negotiations, and the emergence of a semi-autonomous law of transnational commercial activity through the spread of private international arbitration – I look closely at the way legal norms are diffused through the interaction of national and transnational legal fields. My overall conclusions are two-fold. The field of private international law is the site of an ongoing process of conflict and accommodation between different national conceptions of business law, structure, and practice – and thus between legal agents who advocate these conceptions – for dominance in shaping global business activity. The emerging doctrines in this field, which privilege the autonomy and authority of private corporate agents, have a significant impact in constraining the ability of public legal agents – domestically and globally – to challenge corporate priorities in shaping the global political economy.
|Item Type:||Working or Discussion Paper (Working Paper)|
|Subjects:||H Social Sciences > HC Economic History and Conditions
J Political Science > JZ International relations
J Political Science > JX International law
|Divisions:||Faculty of Social Sciences > Centre for the Study of Globalisation and Regionalisation|
|Library of Congress Subject Headings (LCSH):||Globalization -- Economic aspects, International cooperation, Corporate legal departments, Diffusion of innovations|
|Series Name:||Working papers (University of Warwick. Centre for the Study of Globalisation and Regionalisation)|
|Publisher:||University of Warwick. Centre for the Study of Globalisation and Regionalisation|
|Place of Publication:||Coventry|
|Number of Pages:||39|
|Status:||Not Peer Reviewed|
|Access rights to Published version:||Open Access|
|References:||Abel, Richard L. 1994. Transnational Law Practice, Case Western Reserve Law Review, 44: 737-869. _____ and Philip S. Lewis. 1989. Lawyers in Society, Volume Three: Comparative Theories. Berkeley: University of California Press. Appelbaum, Richard P., William L.F. Felstiner, and Volkmar Gessner, eds. 2001. Rules and Networks: The Legal Culture of Global Business Transactions. Oxford: Hart Publishing. Arup, Christopher. 2000. The New World Trade Organization Agreements: Globalizing Law Through Services and Intellectual Property. New York: Cambridge University Press. Beaverstock, J.V., P.J. Taylor, and R.G. Smith. 1999. The Long Arm of the Law: London’s Law Firms in a Globalizing World Economy. Environment and Planning A, 31: 1857-1876. _____. 2000. Geographies of Globalization: United States Law Firms in World Cities. Urban Geography, 21 (2): 95-120. Berger, Klaus Peter, ed. 2001. The Practice of Transnational Law. The Hague: Kluwer Law International. Berman, Harold J. and Colin Kaufman. 1978. The Law of International Commercial Transactions (Lex Mercatoria), Harvard International Law Journal, 19 (1): 221-277. Bermann, George A., Matthias Herdegen, and Peter L. Lindseth, eds. 2000. Transatlantic Regulatory Cooperation. New York: Oxford University Press. Braithwaite, John and Peter Drahos. 2000. Global Business Regulation. New York: Cambridge University Press. Cain, Maureen and Christine B. Harrington, eds. 1996. Lawyers in a Postmodern World: Translation and Transgression. New York: New York University Press. Clark, Ian. 1999. Globalization and International Relations Theory. New York: Oxford University Press. Cohen, Edward S. 2001. Globalization and the Boundaries of the State: A Framework For Analyzing the Changing Practice of Sovereignty. Governance, 14 (1): 75-97. Cutler, A. Claire, Virginia Haufler, and Tony Porter, eds. 1999. Private Authority and International Affairs. Albany, NY: State University of New York Press. de Lisle, Jacques. 1999. Lex Americana?: United States Legal Assistance, American Legal Models, and Legal Change in the Post-Communist World and Beyond. University of Pennsylvania Journal of International Economic Law, 20 (2): 179-309. De Ly, Filip. 1992. International Business Law and Lex Mercatoria. Amsterdam: North-Holland. _____. 2001. Lex Mercatoria (New Law Merchant): Globalisation and International Self-Regulation. in Appelbaum, et al., eds. Rules and Networks…, pp. 159-88. Dezalay, Yves. 1990. The Big Bang and the Law: The Internationalization and Restructuration of the Legal Field, Theory, Culture & Society, 7 (2-3): 279-93. _____ and Bryant G. Garth. 1996. Dealing in Virtue: International Commercial Arbitration and the Construction of a Transnational Legal Order. Chicago: University of Chicago Press. _____ and David Sugarman. 1995. Professional Competition and Professional Power: Lawyers, Accountants and the Social Construction of Markets. London: Routledge. Drake, William J. and Kalypso Nicolaidis. 1992. Ideas, Interests, and Internationalisation: “trade in services” and the Uruguay Round, International Organization, 46 (1): 37-100. Drolshammer, Jens and Michael Pfeifer, eds. 2001. The Internationalization of the Practice of Law. The Hague: Kluwer Law International. Fennell, Edward. 2000. Key Piece in the Global Jigsaw, The Times (London), May 2, 2000. Finnemore, Martha and Stephen J. Toope. 2001. Alternatives to “Legalization”: Richer Views of Law and Politics, International Organization 55 (3): 743-58. Flood, John. 1991. Doing Business: The Management of Uncertainty in Lawyers’ Work, Law and Society Review, 25 (1): 41-71. _____. 1995. The Cultures of Globalization: Professional Restructuring for the International Market, in Dezalay and Sugarman (1995): 139-69. Fred, Sheryl. 2002. The Insider: The Sun Never Sets on the British (Global Law Firm) Market, Corporate Legal Times, (February): 15. Galanter, Marc and Thomas Palay. 1991. Tournament of Lawyers. Chicago: University of Chicago Press. Gawalt, Gerard W., ed. 1984. The New High Priests: Lawyers in Post-Civil War America. Westport, CT: Greenwood Press. Gilson, Ronald J. 1984. Value Creation by Business Lawyers: Legal Skills and Asset Pricing, Yale Law Journal, 94: 239-313. Greenwood, Justin and Henry Jacek, eds. 2000. Organized Business and the New Global Order. New York: St. Martin’s Press. Higgott, Richard A., Geoffrey R. D. Underhill, and Andreas Bieler, eds. 2000. Non- State Actors and Authority in the Global System. London: Routledge. Horwitz, Morton. 1992 The Transformation of American Law, 1870-1960. New York: Oxford University Press. Hudec, Robert E. 1970. The GATT Legal System: A Diplomat’s Jurisprudence, Journal Of World Trade Law, 4: 615-65. _____. 1999. The New WTO Dispute Resolution Procedure: An Overview of the First Three Years, Minnesota Journal of Global Trade, 8: 1-53. International Organization, 54 (3), Special Issue: Legalization and World Politics, Summer, 2000. Jackson, John H. 2000. The Role and Effectiveness of the WTO Dispute Settlement Mechanism, Brookings Trade Forum: 2000: 179-236. Kettl, Donald F. 2000. The Global Public Management Revolution. Washington, D.C.: Brookings Institution Press. Knill, Christoph and Dirk Lehmkuhl. 2002. Private Actors and the State: Internationalization and Changing Patterns of Governance, Governance, 15 (1): 41-63. Koh, Harold Hongju. 1996. Transnational Legal Process, Nebraska Law Review, 75 (1): 181-207. _____. 1997. Why Do Nations Obey International Law?, Yale Law Journal, 106 (8): 2599-2659. Majone, Giandomenico. 1996. Regulating Europe. London: Routledge. Mattli, Walter. 2001. Private Justice in a Global Economy: From Litigation to Arbitration, International Organization, 55 (4): 919-47. McBarnet, Doreen. 1988. Law, Policy, and Legal Avoidance: Can Law Effectively Implement Egalitarian Policies?, Journal of Law and Society, 15 (1): 113-21. McCahery, Joseph and Sol Picciotto. 1995. Creative Lawyering and the Dynamics of Business Regulation, in Dezalay and Sugarman, 1995: 238-74. McConnaughay, Philip J. 2001. The Scope of Autonomy in International Contracts and Its Relation to Economic Regulation and Development, Columbia Journal of Transnational Law, 39: 595-656. Nelson, Robert L. and Laura Beth Nielsen. 2000. Cops, Counsel, and Entrepreneurs: Constructing the Role of Inside Counsel in Large Corporations, Law and Society Review, 34 (2): 457-94. Patchel, Kathleen. 1993. Interest Group Politics, Federalism, and the Uniform Laws Process: Some Lessons from the Uniform Commercial Code, Minnesota Law Review, 78: 83-164. Picciotto, Sol. 1996/97. Networks in International Economic Integration: Fragmented States and the Dilemmas of Neo-Liberalism, Journal of International Law and Business, 17 (Winter/Spring): 1014-56. Pollack, Mark A. and Gregory C. Shaffer, eds. 2001. Transatlantic Governance in the Global Economy. Lanham, MD: Rowman and Littlefield Publishers, Inc. Powell, Michael J. 1993. Professional Innovation: Corporate Lawyers and Private Lawmaking, Law and Social Inquiry, 18 (3): 423-52. Ramsay, Iain. 2001. Commentary: The Politics of Commercial Law, Wisconsin Law Review, 2001: 565-75. Roht-Arriaza, Naomi. 1995. Shifting the Point of Regulation: The International Organization for Standardization and Global Lawmaking on Trade and the Environment, Ecology Law Quarterly, 22 (3): 479-539. Ronit, Karsten and Volker Schneider. 1999. Global Governance through Private Organizations, Governance, 12 (3): 243-66. Sassen, Saskia. 1996. Losing Control? New York: Columbia University Press. _____. 2000. The State and Economic Globalization: Any Implications for International Law?, Chicago Journal of International Law, 1: 109-116. _____. 2001 (1991). The Global City, Second Edition. Princeton: Princeton University Press. Sell, Susan K. 1999. Multinational Corporations as Agents of Change: The Globalization of Intellectual Property Rights, in Cutler, et al., 1999: 169-97. Shaffer, Gregory C. 2001. The Blurring of the Intergovernmental: Public-Private Partnerships Behind US and EC Trade Claims, in Pollack and Shaffer, 2001: 97-123. Shapiro, Martin. 1993. The Globalization of Law, Indiana Journal of Global Legal Studies, 1: 37-64. _____. 1998. Globalization of Freedom of Contract, in Harry N. Scheiber, ed. The State and Freedom of Contract. (Stanford, CA: Stanford University Press): 269-98. Silver, Carole. 2000. Globalization and the U.S. Market in Legal Services, Law and Policy in International Business, 31: 1093-1150. Spar, Debora L. 1997. Lawyers Abroad: The Internationalization of Legal Practice, California Management Review, 39 (3): 8-28. Stone, Diane. 2002 (forthcoming). The ‘Knowledge Bank’ and the Global Development Network. Global Governance. Strange, Susan. 1996. The Retreat of the State. New York: Cambridge University Press. Suchman, Mark C. and Mia L. Cahill. 1996. The Hired Gun as Facilitator: Lawyers and the Suppression of Business Disputes in Silicon Valley, Law and Social Inquiry, 21 (3): 679-712. Tagliabue, John. 2000. International Merger Wave Catches Europe’s Law Firms, The New York Times, (August 4): C3. Teubner, Gunther, ed. 1997. Global Law Without a State. Aldershot, UK: Dartmouth. Trubek, David M, Yves Dezalay, Ruth Buchanan, and John R. Davis. 1994. Global Restructuring and the Law: Studies of the Internationalization of Legal Fields and the Creation of Transnational Arenas, Case Western Reserve Law Review, 44 (2): 407-98. Wiegand, Wolfgang. 1991. The Reception of American Law in Europe, American Journal of Comparative Law, 39: 229-48. _____. 1996. Americanization of Law: Reception or Convergence?, in Lawrence M. Friedman and Harry N. Scheiber, eds. Legal Culture and the Legal Profession, (Boulder, CO: Westview Press): 137-52. Wiener, Jarrod. 1999. Globalisation and the Harmonization of Law. London: Pinter.|
Actions (login required)