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Journal of Global Trade, Ethics and Law
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Cover of Journal of Global Trade, Ethics and Law, volume 2, issue 2
Archive issue

Volume 2 · Issue 2 · 2024

A published issue in the JGTEL archive. Article-level records are being consolidated into the new platform.

Published
06 December 2024
Articles
4
Access
Open access
Table of contents

Research articles

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  1. 01

    Research Article · Pages 1–33

    The Common Law and Adam Smith's Wealth of Nations

    Stephen Crosswell

    Adam Smith developed a theory of the ‘four-stage’ advancement of society as England was entering the Industrial Revolution (the fourth stage) and becoming the leading commercial centre in the world. That transition was raising new and novel legal issues that required legal solutions more complex than the earlier three stages in human advancement, as innovation gave rise to new technologies and ways of working. He and other juridical thinkers saw the debate about whether legislation could effectively drive that transition as the central question of their time, the answer to which would, in the long run, affect the fate of nations and Empire. They had a clear view on this, informed by the study of thousands of years of human history. For them, the common law was vastly superior. This article examines the debate that took place on these issues, the Benthamite revolution that followed and the modern basket of rights that obfuscate the key question that policy-makers should be asking in our generation: if the common law was so successful in driving the Industrial Revolution, what confidence can we have in a legislated approach as we move into the fifth stage, the Technology Revolution? This is one of the most important issues facing the world as societies decide what legal framework(s) will regulate humanity’s move into a digital society and the efforts to discover and invent the technologies that will support us on that journey.

  2. 02

    Research Article · Pages 34–49

    A Comprehensive Simulation of the Russia-Ukraine Armed Conflict: Applying the Post-War Economic Impact Simulator (PEI-Simulator)

    Mario Arturo Ruiz Estrada, Alam Khan

    This paper introduces a new economic simulator in the case of a war, this new economic simulator is entitled “The Post-War Economic Impact Simulator (PEI-Simulator).” The primary objective of the PEI-Simulator is to analyse wars at various stages to assess their overall socio-economic impact in both the short and long term. Additionally, it shifts away from the traditional benefit-cost analysis of war, introducing a new simulator that represents war scenarios from a more complex and dynamic perspective. The PEI-Simulator assesses the economic impacts of countries thorough the possible scenario of a partial or full war in three different stages: (i) pre-war stage; (ii) war stage; (iii) post-war stage. The analysis makes use of different indicators such as economic desgrowth from war (-δwar), war intensity (I), war losses (-Lwar), economic wear from war (Πwar), level of war tension (Twar), level of diplomatic negotiations (D), and the total economic leaking from war (Ωwar). Lastly, this research applies the PEI-Simulator to evaluate a possible full war between Russia and Ukraine.

  3. 03

    Research Article · Pages 50–72

    India, South Korea, and Vietnam: A Triangle of Confidence in the Making

    Taekmin Nam, Shikhar Dhingra, Loc Ngo

    The world today is being pushed closer to a multipolar order by major events in recent times. In facing the ramification of such disruption, many countries have been left with their economies in shambles. Despite the odds, India, South Korea, and Vietnam are the three countries in Asia that have continued to show solid growth throughout the pandemic. Beyond the common economic resilience seen in the present time, the three countries also share mutual defense concerns that trace back to their histories of anti-colonialism. In this paper, we analyze shared features between the three countries that are grounded on the basis of historical anti-colonial struggles, as well as present national security and economic concerns, altogether providing backdrop for a promising three-way alliance.

  4. 04

    Research Article · Pages 73–106

    The Role of Geographic and Sectoral Diversification, and the Herfindahl-Hirschman Index: Insights from Italian Provinces and Regions

    Luigi Capoani, Piergiorgio Martini

    This study examines the role of the Herfindahl-Hirschman Index (HHI) and a new diversification index that integrates geographical and sectoral factors to analyze economic activities in Italian provinces. The research highlights how local territorial heterogeneity influences urban and regional economics, emphasizing diversification as a strategy for growth. The findings underscore diversification’s importance in enhancing economic stability and resilience, while comparing it with specialization. Although it can boost competitive advantage through efficiency and innovation, specialization also increases vulnerability to sector-specific risks. The study calculates the HHI by using three categories: geographical diversification of export destinations, sectoral exports, and geographical import diversification. These insights provide a groundbreaking understanding of the economic dynamics within Italian provinces and regions, showcasing the advantages and trade-offs between diversification and specialization in regional economic development.