LAWS 7717 International Investment Law: Evolution and Challenges

In this seminar we will explore the historical origins of international investment law (IIL), the body of law that governs foreign direct investment and the resolution of disputes between foreign investors and sovereign states. We will draw on an array of historical sources, cases, and the multidisciplinary scholarly literature to analyze how the norms and practices governing centuries of cross-border investment coalesced into a body of law during the late twentieth century. From a global perspective (focusing on the U.S., Latin America and the Caribbean, and Europe in particular) we will study the influence on ILL exerted by theories of race, economic development, legacies of colonialism and empire, pressures of globalization, and generations of IIL practitioners. We will build on these historical explorations to consider new critiques, theories, and practice-relevant aspects of IIL. Topics include the evolution of standards of treatment for foreign investors, the proliferation of bilateral investment treaties, the rise of investor-state arbitration, the role of large law firms, and various proposals for IIL reform designed to achieve greater equity and fairness.