the need of the sovereign state model. It is undeniable that globalization has transformed the nature of the state and that there is a growing trend of cooperation and interdependence. Nonetheless‚ the sovereign state model still has an important role to play even in the face of globalization. The notion of the sovereign state began with the signings of the treaties of Westphalia. The Westphalian state system is what now is considered the modern political structure. The Sovereign state system has
Premium Sovereignty Sovereign state Self-determination
In the script “Shadows and Sovereigns” author Carolyn Nordstrom is exploring the notion of state as the ultimate authority of security‚ power and social control and how this status is crucial for its economy’s progress‚ locally and internationally. While scrutinizing the state’s power‚ “The Sovereign”‚ she embarks upon the discovery of another hidden non-state power which is equally strong‚ but illegal/illegitimate‚ operate through gigantic trade networks‚ are transnationally spread‚ have profound
Premium Political philosophy Sovereign state Sovereignty
Sovereign Wealth Fund The purpose of this report is to analyze the myths associated with Sovereign Wealth Funds (SWFs) and provide a more balanced view of SWFs. The common misconceptions regarding SWFs that have been identified by David Murray are: 1. Homogeneity of SWFs: It is believed that SWFs are a homogenous entity‚ which requires uniform standards and benchmarks. However this has been negated by scholars like Barbary‚ who are of the opinion that though SWFs can be said to comprise of a distinct
Premium
Mary Political Economy January 10‚ 2010 Do Sovereign Wealth Funds Pose a Security Threat to Western States? Sovereign wealth funds have been on the international economic scene since the middle of the 20th century. The Kuwait Investment Authority‚ for example‚ was created in 1953. (Lyons‚ p.25) However‚ until lately they had gone either unnoticed or ignored by the majority of political commentators. Several factors have brought them to the center of attention in economic and political
Premium Investment
State Sovereignty is defined as “ the power of a state to do everything necessary to govern itself‚ such as making‚ executing‚ and apply laws. Australia is a sovereign state as only Australia itself can make laws for Australia. An example of this is if an international law is made‚ it is up to Australia’s federal government to decide whether they want to accept this law for their country. Other countries cannot force Australia to accept this international law. Domestic law governs the behaviour and
Premium Political philosophy Sovereign state Sovereignty
1. The Underlying Likeness among the Concepts of Legitimacy‚ Sovereignty‚ and Authority. Legitimacy: The original meaning of legitimacy is the rightful king or queen was on the throne by reason of “legitimate” birth. Legitimacy now refers to an attitude in people’s minds – in some countries strong‚ in others weak – that the government’s rule is rightful (Roskin‚ 1974). Legitimacy itself is the lawful condition or quality of an act or person. When a whole range of behavior is legitimate‚ it may
Premium Republic of China Sovereign state United States
BRIEFING PAPER Should India Establish a Sovereign Wealth Fund? New Delhi will soon take a final call on the issue of setting up of a sovereign wealth fund (SWF). The idea of setting up an Indian SWF has been going around since 2007 when China established its major sovereign wealth fund‚ China Investment Corporation (CIC)‚ with an initial capital fund of $200 billion. However‚ this time the proposal has received strong support from India’s corporate leaders who recently suggested the
Premium Foreign exchange reserves
Sovereign According to Thomas Hobbes in order for people to “defend them from the invasion of foreigners‚ and the injuries of one another‚ is to confer all their power and strength upon one man” (Bailey 199). This statement means that in order for the people to be safe there needs to be an authority to look after them. Hobbes explains that this authority is a sovereign which has supreme rank and can carry the commonwealth. The commonwealth according to Hobbes is “one person of whose
Premium Political philosophy Plato Social contract
NBER WORKING PAPER SERIES HOLDOUTS IN SOVEREIGN DEBT RESTRUCTURING: A THEORY OF NEGOTIATION IN A WEAK CONTRACTUAL ENVIRONMENT Rohan Pitchford Mark L. J. Wright Working Paper 16632 http://www.nber.org/papers/w16632 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge‚ MA 02138 December 2010 While all errors are our own‚ we thank Rui Esteves‚ Daniel Klerman‚ Lee Ohanian‚ Christoph Trebesch‚ the editor‚ three anonymous referees‚ and numerous seminar participants for comments
Premium Debt Game theory Bankruptcy
The Knower and the Ways of Knowing For thousands of years‚ knowledge‚ and the creation of new knowledge‚ has been essential to the growth and advancement of human society. Whether it was the introduction of democracy or a new‚ more improved version of technology‚ “justified true beliefs‚” are‚ and have been a prominent factor in the development of civilization. But where does new knowledge come from? Historically‚ some of the greatest and most influential discoveries have originated from human
Premium Walt Disney