Property Rights, Human Rights, and the New International Trade Regime
The International Journal of Human Rights, Forthcoming
27 Pages Posted: 15 Feb 2011
Date Written: February 15, 2011
This paper advances the view that the underlying purpose of the WTO agreements is as much about empowering the multinational corporation (MNC) to operate freely as it is about promoting free trade between nations. The empowerment of MNC on such a grand scale has had downside effects on least developed countries (LDC) who when seeking IMF and IBRD assistance are required to apply for membership to the WTO. The paper explores this problem with particular reference to the limited liability of the MNC in respect of personal injury based tort liability, and the need to access much needed basic medicines by LDC. It highlights in this context the conflict between the interests of the MNC and LDC, and of human rights and property rights, and examines ways of addressing these problems.
Keywords: limited liability, property rights, human rights, WTO, TRIPS
JEL Classification: Z70
Suggested Citation: Suggested Citation