The UN Human Rights Norms for Corporations: The Private Implications of Public International Law

Though many years in the making, the UN Human Rights Norms forCorporations only registered on the radars of most states, corporationsand civil society organisations in August 2003 when they beganto move up the ladder of the United Nation's policy-making processes.Since then they have been subject to intense, and sometimesintemperate, debate, scrutiny and controversy. A particularlegal feature of the deliberations has been the focus on theclosely related questions of the legal standing of the Normsin their present format (namely, an imperfect draft, and therefore,of no direct legal force), and what they might become (possibly—thoughnot likely soon—a treaty that speaks to corporations butbinds states). A potent mix of distrust and suspicion, vestedinterests, politics and economics has given rise to a greatdeal of grand-standing and cant concerning these questions andhow they might be answered. In this article, the authors explorethe history of the Norms and the form and content of the debatethat surrounds them, in their attempt to disentangle the legalfrom the rest. That said, the article also focuses on the realpoliticking of the circumstances in which the Norms now findthemselves and it seeks to offer some guidance as to where theNorms—or at least their substance, if not their form—mightgo from here.     

Giving Up (on) Rights? The Future of Rights and the Project of Radical Democracy

Debate over the theory of rights has recently reemerged, with a confrontation between postfoundational writings that challenge the very discourse of rights and Habermasians (and others) who insist on the foundational centrality of rights. This article will not enter such a debate directly, but rather will try to take seriously that challenge itself. The article asks what, exactly, is at stake in an argument for or against rights and queries whether this challenge to rights discourse entails giving up on rights as a tool of political leverage. In responding to such questions I indicate a future for rights and rights discourse, one found within the project of radical democracy. I not only insist that we cannot abandon the discourse of rights in contemporary theory and politics, but also go on to suggest that sustaining and reinvigorating the discourse of rights requires a significant displacement of that discourse from the dominant terms of liberalism and toward those of radical democracy.     

How do federal regulations affect consumer prices? An analysis of the regressive effects of regulation

This study is the first to measure the impact of federal regulations on consumer prices. By combining consumer expenditure and pricing data from the Bureau of Labor Statistics, industry supply-chain data from the Bureau of Economic Analysis, and industry-specific regulation information from the Mercatus Center’s RegData database, we determine that regulations promote higher consumer prices, and that these price increases have a disproportionately negative effect on low-income households. Specifically, we find that the poorest households spend larger proportions of their incomes on heavily regulated goods and services prone to sharp price increases. While the literature explores other specific costs of regulation, noting that higher consumer prices are a probable consequence of heavy regulation, this study is the first to provide a thorough empirical analysis of that relationship across industries. Irrespective of the reasons for imposing new regulations, these results demonstrate that in the aggregate, the negative consequences are significant, especially for the most vulnerable households.

     

How virtual are virtual economies? An exploration into the legal, social and economic nature of virtual world economies

Virtual world economies are undoubtedly increasing in growth, participation and importance. Their macroeconomic impact has already been seen as important in the real world economies; however its governance and jurisdiction is unclear. This paper will argue that virtual economies are not actually as virtual as they first appear to be. Secondly the paper argues that because of the real world effects and impacts virtual world economies can have, they should be applicable to real world jurisdictions and regulations. The question that is therefore posed is in which jurisdiction should the legal backbone be placed? The paper will be divided into several parts. Firstly, a background of what virtual worlds are, and what they mean in linguistic definition. Secondly, a review of law economics and history shall be considered to determine that what is once considered ‘other worldly’ is accepted as the norm. Thirdly, the paper will consider a virtual world economy, namely that of Second Life to establish the real world impacts that virtual world economies can have. Fourthly, the paper will consider two case studies of financial crisis occurring in the virtual worlds and the synergies we can draw from the real world. Finally, the paper will conclude with the proposition that legal governance is required and will enable what is already a lucrative business to flourish further within the realms of possibility and not virtually.