Vulnerability Theory as a Paradigm Shift in International Investment Law: Reimagining the Role of the State
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Vulnerability Theory as a Paradigm Shift in International Investment Law : Reimagining the Role of the State. / Küçüksu, Aysel; Ünüvar, Güneş.
I: Business and Human Rights Journal, Bind 8, Nr. 3, 2023, s. 309-328.Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt
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TY - JOUR
T1 - Vulnerability Theory as a Paradigm Shift in International Investment Law
T2 - Reimagining the Role of the State
AU - Küçüksu, Aysel
AU - Ünüvar, Güneş
PY - 2023
Y1 - 2023
N2 - This article argues for a fundamental raison d’être reconceptualization of international investment law (IIL) through Martha Fineman’s ‘vulnerability theory’. The theory helps identify the structural sources of IIL’s shortcomings, whilst philosophically challenging the one-sided view that foreign investors are entitled to protections, but are free from obligations vis-à-vis the communities affected by their undertakings. Emphasizing the productive power of the state to take positive action that acknowledges ordinary citizens’ embeddedness within, and dependence upon, surrounding structures, the vulnerability theory challenges the hegemonic perception of the state as a source of danger – a view which has hitherto undermined both the potency and the enforceability of investor obligations. Used as a heuristic device in studying both IIL’s existing structures and the potential avenues for reimagining it, Fineman’s theory not only shines a novel light on the foundational premises of IIL, but also grants theoretical traction to existing ideas about improving the system.
AB - This article argues for a fundamental raison d’être reconceptualization of international investment law (IIL) through Martha Fineman’s ‘vulnerability theory’. The theory helps identify the structural sources of IIL’s shortcomings, whilst philosophically challenging the one-sided view that foreign investors are entitled to protections, but are free from obligations vis-à-vis the communities affected by their undertakings. Emphasizing the productive power of the state to take positive action that acknowledges ordinary citizens’ embeddedness within, and dependence upon, surrounding structures, the vulnerability theory challenges the hegemonic perception of the state as a source of danger – a view which has hitherto undermined both the potency and the enforceability of investor obligations. Used as a heuristic device in studying both IIL’s existing structures and the potential avenues for reimagining it, Fineman’s theory not only shines a novel light on the foundational premises of IIL, but also grants theoretical traction to existing ideas about improving the system.
U2 - 10.1017/bhj.2023.38
DO - 10.1017/bhj.2023.38
M3 - Journal article
VL - 8
SP - 309
EP - 328
JO - Business and Human Rights Journal
JF - Business and Human Rights Journal
SN - 2057-0198
IS - 3
ER -
ID: 369365857