In Praise of Limiting Democracy: a Defense of ISDS
With the UK Parliament debating CETA and the CJEU hearing arguments on the compatibility of EU law with the dispute resolution provisions, investor-state dispute resolution (ISDS) is very much in the news again. Many seem to be concerned about the integrity of the nation state, the ability of the people (within national boundaries) to order and determine their fates. Why should we not view ISDS as a threat to national wellbeing? The reason is that sometimes we need constraints on sovereign discretion.
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