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
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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
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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
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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
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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
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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
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4 ELEMENTS OF STATE | by Phatsakone Chanhchom on March 9th‚ 20100 COMMENTSShare | Following the Montevideo Convention on Rights and Duties of states which was a treaty signed at Montevideo‚ Uruguay‚ on December 26th‚ 1933.The state as a person of international law should possess the following qualifications: (a) a permanent population (people); (b) a defined territory; (c) government (political authority); and (d) capacity to enter into relations with the other states (diplomat recognition
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Articles mainly talk about rise of state capitalism‚ its growth and actions of the government‚ the variations of state capitalism‚ benefits and flaws and its future. Rise of state capitalism In the recent years‚ following the biggest financial/economic crisis in 2007-2008 that destroyed Lehman Brothers‚ state capitalism grew to be more popular. State capitalism is basically profit making and seeking‚ with the government trying to match the powers of the state with the powers of capitalism. They
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STATE is a community of persons more or less numerous permanently occupying a definite portion of territory‚ having a government of their own to which the great body of inhabitants render obedience‚ and enjoying freedom from external control. Elements of State. The modern state has four essential elements. 1. People. This refers to mass of population living within the state. Without people‚ there can be no functionaries to govern and no subject to be governed. 2. Territory
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Sovereign Immunity is a principle of public International Law as per which a state and its instrumentalities ( its officials‚ organs or agents) cannot be sued before courts of a foreign state‚ in other words‚ court of one state cannot sit in judgment on another state. This immunity was granted to the State to enable it to carry out its public functions effectively and maintain international relations. Under the principles of International Law all states are equal and sovereign‚ thus a need was felt
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