Constitutionalizing Economic Globalization: Investment Rules and Democracy's Promise (Cambridge Studies in Law and Society)

Are foreign investors the privileged citizens of a new constitutional order that guarantees rates of return on investment interests? Schneiderman explores the linkages between a new investment rules regime and state constitutions - between a constitution-like regime for the protection of foreign investment and the constitutional projects of national states. The investment rules regime, as in classical accounts of constitutionalism, considers democratically authorized state action as inherently suspect. Despite the myriad purposes served by constitutionalism, the investment rules regime aims solely to enforce limits, both inside and outside of national constitutional systems, beyond which citizen-driven politics will be disabled. Drawing on contemporary and historical case studies, the author argues that any transnational regime should encourage innovation, experimentation, and the capacity to imagine alternative futures for managing the relationship between politics and markets. These objectives have been best accomplished via democratic institutions operating at national, sub-national, and local levels. Cover......Page 1 Half-title......Page 3 Series-title......Page 4 Title......Page 7 Copyright......Page 8 Dedication......Page 9 Contents......Page 11 Acknowledgments......Page 13 Introduction: The New Constitutional Order......Page 17 Why constitutionalism?......Page 19 What constitutionalism?......Page 24 The constraining version......Page 25 The enabling version......Page 26 Democratizing constitutionalism......Page 29 The plan of the book......Page 33 Part One: Rules......Page 39 CHAPTER ONE The Investment Rules Regime......Page 41 The regime in outline......Page 43 Definitions......Page 46 Standards of protection......Page 47 Takings......Page 49 Investor-state disputes......Page 50 Exceptions and reservations......Page 51 Enforcement......Page 52 Its constitution-like features......Page 53 CHAPTER TWO The Takings Rule......Page 62 Going too far?......Page 64 Fourteenth amendment psychology......Page 72 Return of the standards of civilized justice......Page 78 CHAPTER THREE Investment Rules in Action......Page 85 Taking stock......Page 90 "Substantial," "significant,"and "unreasonable" interference......Page 94 "Deprivations of reasonably-to-be-expected economic benefits"......Page 98 'Lasting deprivation...to make use of its economic rights"......Page 102 Part Two: Projects......Page 125 CHAPTER FOUR Health and the Environment......Page 127 Internalizing constraints......Page 130 Plain packaging......Page 136 Mmt fuels the controversy......Page 145 CHAPTER FIVE Land and empowerment......Page 151 Bits and land......Page 153 Equality promotion and black economic empowerment......Page 163 CHAPTER SIX Privatization and Democratization......Page 174 The calvo doctrine......Page 177 1936 reforms......Page 180 1991 Colombian Constitution......Page 183 The bilateral regime......Page 187 The multilateral regime......Page 190 Constitutionalism under pressure......Page 192 Part Three: Resistance......Page 199 CHAPTER SEVEN Citizenship......Page 201 Market citizenship......Page 203 Consumer citizenship......Page 207 Subnational citizenship......Page 210 Computer-mediated citizenship......Page 215 CHAPTER EIGHT The rule of law......Page 221 The neoliberal rule of law......Page 224 The social rule of law......Page 229 Taming the rule of law......Page 234 CHAPTER NINE Conclusion: A world of possibilities......Page 239 Alternative history......Page 241 Alternative futures......Page 246 Introduction: The New Constitutional Order......Page 254 The Takings Rule......Page 255 Investment Rules in Action......Page 257 Land and empowerment......Page 260 Privatization and Democratization......Page 263 Citizenship......Page 266 The rule of law......Page 267 Conclusion: A world of possibilities......Page 268 Bibliography......Page 270 Canada......Page 323 GATT/WTO......Page 324 International Investment Arbitration......Page 325 United States......Page 327 Index......Page 329 David Schneiderman Explores The Linkages Between A New Investment Rules Regime And State Constitutions - Between A Constitution-like Regime For The Protection Of Foreign Investment And The Constitutional Projects Of National States. The Investment Rules Regime, As In Classical Accounts Of Constitutionalism, Considers Democratically Authorized State Action As Inherently Suspect. Drawing On Contemporary And Historical Case Studies, The Author Argues That Any Transnational Regime Should Encourage Innovation, Experimentation, And The Capacity To Imagine Alternative Futures For Managing The Relationship Between Politics And Markets. These Objectives Have Been Best Accomplished Via Democratic Institutions Operating At National, Sub-national, And Local Levels.--book Jacket. The Investment Rules Regime -- The Takings Rule -- Investment Rules In Action -- Health And The Environment -- Land And Empowerment -- Privatization And Democratization -- Citizenship -- The Rule Of Law -- Conclusion: A World Of Possibilities. David Schneiderman. Includes Bibliographical References (p. [254]-312) And Index. David Schneiderman sketches the outlines of a new global regime governing international economic relations in the realm of foreign investment. The focus is on the links between this new regime and constitutionalism - between a constitution-like regime for the protection of foreign investment and the constitutional projects of national states.