Global Legal Systems Overview

A legal ideology of modernity that believes in a single, overarching legal system for all societies, often associated with Western legal traditions.

A monetary system where the value of a currency is directly tied to a fixed amount of gold. It was widely used in the 19th and early 20th centuries.

A historical event where the prices of tulip bulbs in the Netherlands inflated massively before collapsing. It illustrates the dangers of speculative bubbles and market instability.

The idea of governance in Chinese political and legal philosophy, emphasizing the importance of rulers acting with moral principles and respecting the people.

A global organization regulating international trade between nations, with rules designed to promote free trade and economic prosperity.

The concept that globalization is primarily shaped by the rules and norms governing relationships between states, such as international law, diplomacy, and treaties.

An influential article by H.J. Mackinder, outlining the geopolitical significance of the Eurasian landmass and its role in shaping world power.

The concept of a common legal and political order that united various European states. The Holy Roman Empire, centered around the German Empire, served as a unifying element during this period.

The World Trade Organisation (WTO) is an intergovernmental organization that regulates international trade. Its primary function is to ensure that trade flows smoothly, predictably, and freely among nations.

The constitutional chain of legitimacy starts with the people, and that power is channeled to a constitution, which then guides the government.

The three pillars of Bretton Woods institutionalized multilateralism are the International Monetary Fund (IMF), the World Bank (WB), and the General Agreement on Tariffs and Trade (GATT).

Comparative law emerged in the 19th and 20th centuries as a product of private international law, which dealt with legal systems in different countries.

The Modern State is conventionally considered to have been born with the Peace of Westphalia in 1648.

Professor Coleman argues that the American Constitution, despite its emphasis on liberty, is rooted in a Hobbesian philosophy, emphasizing the need for strong state power to maintain order.

The second generation of the "Law and Development" approach, which emerged in the early 1980s, shifted its focus from state-led development to market-oriented policy thinking.

American legal realism is characterized by its recognition of the difference between law in books (what legal codes prescribe) and law in action (how laws are actually applied in practice) by judges and other legal actors.

The authors of the article "The Economic Consequences of Legal Origins" view legal origin broadly as a style of social control, influencing not just the economy but other aspects of life as well.

The "Law and Development" approach originated in the attempts of Western developed economies to promote legal reforms in developing countries, aiming to foster their economic progress.

Western European law in the Middle Ages was characterized by a division between the local "ius proprium" (customary law specific to a region) and the transnational "ius commune" (common law shared across jurisdictions).

The problem of the relation between the League of Nations and the 'Western Hemisphere' was due to the official absence, but effective presence, of the United States. The US did not formally join the League of Nations, but it still wielded significant influence in the Western Hemisphere.

The Monroe Doctrine, declared in 1823, removed the Western Hemisphere from further European land-appropriations, asserting US dominance over the region.

Natural law theories posit that there are moral and ethical principles that are inherently right and just, independent of human-made laws.