ECONOMIC SOVEREIGNTY

Aleksandar Savanovic ()
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Aleksandar Savanovic: Faculty of Political Sciences, University of Banja Luka

No 701305, Proceedings of International Academic Conferences from International Institute of Social and Economic Sciences

Abstract: Abstract: In this paper we analyze one aspect of the standard thesis that the globalization process leads towards desovereignization. For the purposes of this paper we have adopted a narrow definition of globalization as a process of global expansion of capital, primarily financial. The classic design of sovereignty of a nation state is compromised due to the proliferation of capital, and states are becoming less able to resist the power of multinational corporations, both in terms of taking over resources and imposing political decisions. This fact raises the question of the subject of sovereignty: whether governments represent the interests of citizens (people) who, as the source of sovereignty, transfer the executive power to the government or governments must adjust to the interests of anonymous centres of economic power. If the latter is the case, then we obviously encounter a new kind of sovereignty: economic sovereignty.

Keywords: globalization; sovereignty; nation state. (search for similar items in EconPapers)
JEL-codes: A10 F59 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2014-10
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Published in Proceedings of the Proceedings of the 12th International Academic Conference, Prague, Oct 2014, pages 1022-1041

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Persistent link: https://EconPapers.repec.org/RePEc:sek:iacpro:0701305

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