Professor Christopher Bruner, the Stembler Family Distinguished Professor in Business Law at the University of Georgia School of Law, recently gave a seminar presentation at the University of the Witwatersrand School of Law, as part of his ongoing research visit at that Johannesburg, South Africa, law school.
Title of the presentation was “Private Power and Public Good: Harnessing the Corporation for a Sustainable Future.” Its focus corresponded with Bruner’s research project, a comparative corporations book that:
1st, develops a new conception of the corporate form and associated rules of corporate law and governance; and
2d, builds on that framework to explore the corporation’s potential to contribute to environmental, social, and economic sustainability.
Harlan Grant Cohen, the Gabriel M. Wilner/UGA Foundation Professor in International Law and Faculty Co-Director of our Dean Rusk International Law Center at the University of Georgia School of Law, has posted a chapter entitled “Multilateralism’s Life-Cycle,” which will appear in a forthcoming issue of volume 112 of the American Journal of International Law.
The manuscript, which forms part of our Dean Rusk International Law Center Research Paper Series at SSRN, may be downloaded at this SSRN link.
Here’s the abstract for this essay by Professor Cohen, an expert in global governance and member of the AJIL Board of Editors:
Does multilateralism have a life-cycle? Perhaps paradoxically, this essay suggests that current pressures on multilateralism and multilateral institutions, including threatened withdrawals by the United Kingdom from the European Union, the United States from the Paris climate change agreement, South Africa, Burundi, and Gambia from the International Criminal Court, and others, may be natural symptoms of those institutions’ relative success. Successful multilateralism and multilateral institutions, this essay argues, has four intertwined effects, which together, make continued multilateralism more difficult: (1) the wider dispersion of wealth or power among members, (2) the decreasing value for members of issue linkages, (3) changing assessment of multilateral institutions’ value in the face of increased effectiveness, and (4) members’ increased focus on relative or positional gains over absolute ones. Exploring how each of these manifests in the world today, this essay suggests that current stresses on multilateralism may best be understood as the natural growing pains of an increasingly mature set of institutions. The open question going forward is what form the next stage of development will take. Will strategies of multilateralism continue or will they be replaced by smaller clubs and more local approaches?