Andreas F. Lowenfeld As conflict and cooperation among states turn to an ever greater extent to economic issues, this fully updated and expanded second edition presents a comprehensive exploration of the legal foundations of the international economy. In it, Professor Andrews Lowenfeld examines the current status of the law, and explores the origins, political tensions and development of outcomes that are often difficult to comprehend. The book covers all the major elements of economic law in the international arena including the World Trade Organization and its antecedents; dumping, subsidies, and other devices that alter the market; the International Monetary System, including the collapse of the Bretton Woods system; the debt of developing countries; the law of foreign direct investment, including changing perceptions of the rights of host states and multinational enterprises; and economic sanctions. The book also contains chapters on competition law, environmental law, and new chapters on intellectual property and the various forms of arbitration; demonstrating how these subjects fit into the framework of international economic law.
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Book Reviews Andreas F. Lowenfeld, International immediate result of this trend is a burgeoning Economic Law. Oxford: Oxford literature on International Economic Law issues,2 among which valuable and less valu- University Press, So, what are the elements which distinguish these two volumes and which Mitsuo Matsushita, Thomas J.
Oxford: years? Oxford University Press, Firstly, these two books were written by They are already frequently cited characterizing this area.
Both of these books and widely held to be authoritative. This may therefore be viewed as a general stock- prompts the question of what makes a classic taking in the course of a longstanding and in International Economic Law.
There is cer- ongoing process of analysis. International Economic Law cating our vision of the very bases of this field also seems to have the potential to act as a set of law.
The authors do not enter into futile of norms which, in a certain sense, unify large generic discussions, but rather assume a very parts of this field of knowledge whose various pragmatic attitude. This is very much in the ramifications seem to drift ever further apart. EJIL , Vol.
To Law. It is, however, both Public and Private International Econ- developed in an inductive manner. The auth- omic Law. As a consequence, taken by Lowenfeld, International Economic Georg Schwarzenberger could be qualified as a Law, and interpret the relevant provisions.
As prescient observer when — in ! In this, quite cerned only with such aspects of economic significant differences between the two books phenomena as come within the purview of can be noted. They are, an autonomous, though of course not com- partly, doctrinal and, partly, pragmatic. In the event that the broader they did not display a minimum of functional approach is adopted, the next question would unity to justify an autonomous status.
From a be what are the outer borders of this discipline. The main chapters of his books The arguments invoked by Professor comprise a broad outline of the WTO system, Schwarzenberger may today no longer fit well international investment, a detailed analysis into a system of international economic of the international monetary system and an relations which has in recent decades under- examination of the role and the limits of gone radical transformations.
On the other economic sanctions. There is no treatment of hand, the international community has the so-called private-law aspects of inter- expanded the field of application of Public national economic transactions, regulated, International Economic Law in such a for example, by the United Nations Conven- dynamic way that it now regulates not only tion on Contracts for the International Sale of typically public matters but, in line with its Goods.
Book Reviews increased role in general international two books here reviewed have, without doubt, relations, it has also given some space to made an important contribution to this private actors. International Economic Law process.
Economic Law is the result of many years of Notwithstanding these developments, it experience. It is also written much more from has never been contested that the most a traditional public international law view- important basis for this branch of law is to be point.
At the Law is more clearly evidenced than in The same time, the developments in the areas World Trade Organization. In ence for those conceiving International Econ- the same way that public international law omic Law as an independent branch of law, scholars seem to have the upper hand in the which is at the same time closely interrelated study of international economic law, it is fair with Public International Law, while The to say that privatists exercise a sort of domi- World Trade Organization has surely helped to nation of private international economic law.
The sheer bulk of ings underlying the two books have further information and notions as well as the dif- consequences with regard to certain formal ferent methodological approaches pointed aspects. This may, however, Law, is increasingly emancipating itself. In undertone: any case, one gets the impression, reading [. Such a claim may be useful as a plea to increase the number of academic posts in the field of separation. Peaceful relations between subjects of international law, yet in our opinion, inter- international law are, after all, to a very large national economic law is so closely embedded extent directly concerned with exchanges.
Seidl-Hohenveldern, International Economic that the latter would be crippled by such a Law 2nd ed. This reviewer appreci- widely discussed and questioned in inter- ated finding extensive examinations of national fora since the World Conference on subjects like the international monetary Human Rights in Vienna in In the an economic argument and a cultural argu- Matsushita, Schoenbaum and Mavroidis vol- ment.
In the ments particularly interesting. It is asked if there insights. Universality is here addressed the WTO in particular have been given two books of extraordinary value. This author in economic and political terms. The second knows from personal experience that writing set of arguments pertains to cultural diversity, manuals on rapidly changing law subjects and the question is whether it is possible to can be both a source of joy and pain.
These ful readers who await a new edition. Of two discussions were highlighted by the Asian course, there is not yet any need for a new governments in Vienna and continued to be edition of either of these volumes.
This reviewer, however, In Vienna, representatives of East and is certain that both of these volumes have Southeast Asian nations stressed that in the already attracted quite a following that will, protection of human rights internationally, when the time comes, encourage the authors serious consideration must be given to econ- to update these books in order to maintain omic inequality, and national implementation their place, as attributed at the beginning of must be done in accordance with the cultural this review, as classics of International Econ- traditions of each region or country.
A declar- omic Law. Human Rights in were brought forward. On economy the Bang- Chinese Thought. A Cross-Cultural kok Declaration strongly protested against Inquiry. A Canada- 1 Kirsten Hastrup ed. Aldershot, UK: Common Grounds. The Quest for Universality. The Ashgate Publishing Ltd, Hague: Kluwer Law International. Related Papers.
International Economic Law
Reviews and Awards Winner of the ASIL Hudson Medal for scholarship and achievement in international law Review from previous edition Andreas Lowenfeld has written the book many were hoping he would write Apart from the analytical ability with which [he] outlines the structures and principles of international economic law and the abundance of enlightening historic details, one must commend the author on [his] language and style Lowenfeld has written a very important and delightful book Even if one does not wholeheartedly subscribe to the conclusions, the book starts one on a journey of consideration of these increasingly important and overlooked issues. All those who have a deep interest in public and private international law should undergo that journey. The two books to be reviewed here are such examples.
International economic law
Book Reviews Andreas F. Lowenfeld, International immediate result of this trend is a burgeoning Economic Law. Oxford: Oxford literature on International Economic Law issues,2 among which valuable and less valu- University Press, So, what are the elements which distinguish these two volumes and which Mitsuo Matsushita, Thomas J. Oxford: years? Oxford University Press, Firstly, these two books were written by