The contested goals and functions of international economic law

This is chapter 2 of our forthcoming book Advanced Introduction to International Economic Law for Edward Elgar Publishing. The chapter explores the evolving and contested goals and functions of international economic law from 1945 to the present. It considers both the traditional functions and overlapping goals of international economic law as a whole and the goals and functions of five sub-fields of IEL (trade, investment, finance, monetary and tax). The chapter then critically evaluates the issues of power and distribution, with a focus on inequality and development. So far, Global North countries have been reluctant to enlist international economic law to advance redistributive goals, a stance that contrasts with third world approaches.