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World markets, national models / Globalising Law: Stray[ing] in high-power cars on a by-pass way

Anno XXXIII, n. 146, settembre-ottobre 1998
Centro Einaudi


Testo disponibile solo in lingua inglese.
This article discusses the globalisation of law as the globalisation of world legal culture and its interrelations with given market mechanisms. The first section deals with "commonplace" arguments about globalisation, then goes on to explore how legal culture has substantially failed account for developments in progress. The author then examines the legal "packages" proposed as models for the management of globalised markets and how, as a result of all this, the legal profession plays a leading role. From this point of view, he demonstrates how the interrelationship between legal rules and market processes takes place at a very low level and how Italy’s in particular is a very marginal legal system, tendentially incapable of coping with what is happening.