The Global Protection Organisation (GPO) - A Proposal to Improve the Handling of Global Challenges

Ulrich van Suntum

MPRA Paper from University Library of Munich, Germany

Abstract: The paper proposes a new approach for making global contracts, mainly based on the Coase-theorem. In particular, it is argued that combining several, normally unrelated issues to a bargaining bundle could facilitate Pareto-efficient contracts that benefit all, even including future generations. For this ends, a new institution called Global Protection Agency (GPO) is suggested that should be organized quite similar to the WTO, however with a much larger scope of competences.A formal model is used to demonstrate how this could work.

Keywords: Global warming; WTO; Coase-theorem (search for similar items in EconPapers)
JEL-codes: H70 K00 Q50 (search for similar items in EconPapers)
Date: 2021-07-30
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:108984

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