The State as 'Black Box' and the Market as Regulator: A Comment on Anne Van Aaken's 'Effectuating Public International Law Through Market Mechanisms'

16 Pages Posted: 4 Nov 2008 Last revised: 29 Oct 2014

Peer C. Zumbansen

King’s College London, Dickson Poon Transnational Law Institute

Date Written: October 31, 2008

Abstract

In the autumn of 2008, at a time of global reconsideration of the role of states in the regulation of markets, the paper uses the reflection on past experiences with the laissez faire state, the interventionist state, the welfare state and the enabling state as institutional crystallization points in an ongoing learning process of regulatory innovation as a framework to assess contemporary proposals to delegate public international law [PIL] enforcement to market actors. As such, the paper attempts to carve out possible conceptual and political implications of the current proposals against the background of interventionist and post-interventionist market regulation models. However, the translation of nation-state experiences with market regulation onto the global sphere presents a challenge in light of the particular structural qualities of transnational regulatory regimes. The task - both for a reconstructive narrative and for a delegation theory of PIL regulation through market actors - lies in the production of a better understanding of state-market and public-private distinctions in the transnational arena.

Keywords: Public International Law Enforcement, Market regulation, Interventionist State, Transnational Law, Regulatory Theory, Governance

JEL Classification: K33, F55, F59

Suggested Citation

Zumbansen, Peer C., The State as 'Black Box' and the Market as Regulator: A Comment on Anne Van Aaken's 'Effectuating Public International Law Through Market Mechanisms' (October 31, 2008). CLPE Research Paper No. 35/2008. Available at SSRN: https://ssrn.com/abstract=1292789 or http://dx.doi.org/10.2139/ssrn.1292789

Peer C. Zumbansen (Contact Author)

King’s College London, Dickson Poon Transnational Law Institute ( email )

Somerset House East Wing
Strand
London, WC2R 2LS
United Kingdom

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