Global Private Regimes: Neo-Spontaneous Law and Dual Constitution of Autonomous Sectors?

Abstract

I shall contrast two current theses on the globalization of law with two less current counter-theses:

First thesis: globalization is relevant for law because the emergence of global markets undermines the control potential of national policy, and therefore also the chances of legal regulation. First counter-thesis: globalization produces a set of problems intrinsic to law itself, consisting in a change to the dominant lawmaking processes.

Second thesis: globalization means that the law institutionalizes the world-wide shift in power from governmental actors to economic actors. Second counter-thesis: globalization means that the law has a chance of contributing to a dual constitution of autonomous sectors of world society.

Keywords: legal theory, system theory

JEL Classification: K10, K40