The old lawyer caressed his smoothly shaven chin and gazed out at Joyce Lavillotte from under his shaggy eyebrows, as from the port-holes of a castle, impressing her as being quite as inscrutable of aspect and almost as belligerent. She, flushed and bright-eyed, leaned forward with an appealing air, opposing the resistless vigor of youth to the impassiveness of age.
Keynes established that both the short-run and long-run performance of a capitalist system depend upon investment, but he failed to arrive at an alternative to the neoclassical theory of investment. Professor Gordon demostrates that the extension of neoclassical theory to deal with uncertainty and risk aversion is based upon a string of assumptions which are empirically false. The competitive stationary state, the foundation for the neoclassical theory of a capitalist system, is shown to be unfeasible because it results in a very high probability of bankruptcy at the micro level and the system's early collapse on the macro level. Capitalists seeking long-term survival are shown to be subject to a growth impreative, to the pursuit of monopoly power, and to a concern for financial policy. Later sections of the book discuss the consequences of this behaviour for the short-run fluctuations and the long-run development of capitalist systems.
Arbitration And Renegotiation Of International Investment Agreements : A Study With Particular Reference To Means Of Conflict Avoidance Under Natural Resources Investment Agreements
This book is a second, revised edition of the original 1986 publication. Since then, the issue of contract change has increasingly challenged the business community and legal practitioners. The world-wide recession may well have accelerated the need to secure contractual relationships by reasonable flexibility. Successful foreign investment, a relentless challenge, is subject to many unpredictable errors. Of all these variables, however, successful investment is most dependent on the investor-host country relationship, which is the object of the present study. In particular, the pressure by host countries for contract change and its counterpart: the investor's defence of contract stability.The book is essentially a reference handbook for legal practitioners. It analyzes a variety of increasingly important questions concerning international investment agreements that come under pressure for change by one of the contracting parties: either a transnational corporation or a host country government. The seven case studies and the analytical chapters which follow are based on the author's research and the assistance of corporate and government officials, experts from the United Nations and other organizations, and members of academic research institutes.
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