Transnational Corporations, as Subjects of International Law in the Globalization Context

When analyzing the contemporary society, globalization eloquently describes every domain of existence, regardless of the geographic area, whether we are talking about the elimination of borders, rapid access to information, or the freedom of capital and circulation, for example. Its economic dimensi...

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Bibliographic Details
Published in:Revista de stiinte politice 2019-01 (64), p.65-75
Main Authors: Porumbescu, Alexandra, Pogan, Livia Dana
Format: Article
Language:English
Subjects:
Borders
Capitalism
Companies
Consumption
Freedoms
Globalization
International economic relations
International law
International relations
Politics
Regulation
Society
Transnationalism
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Summary:When analyzing the contemporary society, globalization eloquently describes every domain of existence, regardless of the geographic area, whether we are talking about the elimination of borders, rapid access to information, or the freedom of capital and circulation, for example. Its economic dimension, however, has a predominant impact, as Wallerstein considered that the world capitalist economy determines all dimensions of social life. Transnational corporations become, in today's context, an emblematic portrayal, defining globalization, characterized by the transcendence of traditional models of capitalism (Behrman, 2003). Thus, the regulation of global economic relations and functioning in this global space requires a new reference framework and specific institutional regulations, with no consensus yet. Although the role of transnational corporations as major actors in the globalization process is widely recognized, intense debate has been generated by their status as subjects of international law. Therefore, in this paper we intend to highlight the main aspects regarding their legal status, discussing also the larger globalization context.
ISSN:1584-224X