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.
Introduction: the new constitutional order; Part I. Rules: 1. The investment rules regime; 2. The takings rule; 3. Investment rules in action; Part II. Projects: 4. Health and the environment; 5. Land and empowerment; 6. Privatization and democratization; Part III. Resistance: 7. Citizenship; 8. The rule of law; 9. A world of possibilities.
"The new work by David Schneiderman, CONSTITUTIONALIZING ECONOMIC GLOBALIZATION: INVESTMENT RULES AND DEMOCRACY'S PROMISE, is an interesting look at how the emergence of universal rules regulating foreign investment is having a disruptive effect on government policies well beyond their immediate sphere of application....The important contribution of Schneiderman's book lies in his explanation of the origin....provides a very good systematic examination of the regulatory frictions and social conflicts arising from the neo-liberal investment regime..."
--Donald Feaver, RMIT University, Melbourne, The Law and Politics Book Review
"Schneiderman's book advances a thought-provoking criticism of the current economic order that dominates the global marketplace...[A] valuable read for anyone interested in the intersection between law and economics at the international level."
International Law and Politics, Joseph Valane