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Is ICC here International Chamber of Commerce? That would make sense in the context, but it's slightly unclear to me from the text quoted. (It can't be International Criminal Court, obviously enough.)

I have taught a lot of this in international business transactions classes, but not from this perspective, obviously enough. It's also perhaps worth pointing out that the historical alternative to arbitration panels in the case of expropriation isn't that the local people get the stuff, but rather gunboat diplomacy, coups, invasions, etc. Sometimes even imperfect and easily critiquable developments represent progress nonetheless. I don't mean to suggest that, because these developments were better than what went before, they are good as such. But, the development here often seems to me to be overlooked by their critics.

Eric Schliesser

Yes, the ICC = International Chamber of Commerce.
I made your point about gunboat diplomacy, coups, invasions, etc. in class, too. In particular, it was a means to prevent the experience of renewed colonial rivalry leading to new wars among would-be-allies against USSR.


Thanks. The ICC is an interesting organization. I'd be interested if there was a good book about it's history. It does a lot of good and unobjectionable things - standardized terms in contracts, arbitration panels that really are better than many local courts, etc., but of course also strongly pushes a line that is tilted towards business and investors, even when this is unreasonable.

Eric Schliesser

In the chapter I quote from, Slobodian does cover some of its history.

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