Disadvantages Of Harmonization Of Law

2. By uniting these countries they are also able to relieve one person’s wants and increase another’s enjoyments. They are also able to encourage on another’s industries, which is why Adam Smith believed the benefits outweighed the misfortunes.

Changes in structure: The government is use to operating within a certain structure and with unification will come changes in structure for both the county and city governments. Under consolidation there will be fewer elected officials than normal along with an elected executive. This hybrid could bring about difficulties for both jurisdictions.

Although the different states exist, there exists subsequent and distinct rules and regulations in each state governing the operations and legal matters. Nevertheless, the separate states have similarities in sections such as the human rights and the overall appointment of the president with specifics in term period. Likewise, there are similarities governing citizenship and amnesty issues and the involvement in international trade matters.

Reduced trading costs with cooperation countries, better communication through trade, larger competition for similar companies, more choices for consumers, and a greater sense of global community.

The financial crisis of 2008 has been described as the worst financial crisis the world has seen since the great depression, but there are now murmurings of the potential for an even greater financial crisis, a currency crisis, caused by the demise of the US Dollar. The Dollar has been the reserve currency of the world since it took over from the Pound at the end of world war two, but we examine if it is about to crash spectacularly?

Statute laws are Federal laws approved by Congress and the President of the United States. While anyone can propose that Congress adopt a law, the bill must pass both Houses of Congress before being signed or vetoed by the President. If the President veto’s a bill Congress has the power to override that veto with a two-thirds approval vote. The bill then becomes law. Statutes are the primary source of authority. Federal Statutes outweigh local and state statutes. For example, even though Colorado, Washington, Orgeon and D.C. have legalized the recreational use of marijuana, under federal law it is still illegal.

This is a tricky question, I think the laws that we have as of now are pretty sensible. So, there is no need to nationalize any laws. First, let’s analyze how present existing laws take effect. For instance, if a person commits a felony in Massachusetts he or she is looking at five years jail time compared to 13 months in South Dakota. If the people of South Dakota wish for more time for a felony in their state it’s a simple matter off debating the law and passing a bill. Therefore I will not support nationalizing any law nationalizing the law simply will give more power to Congers will push the country towards federalism so, it is for that reason I am not a supporter of nationalizing things which should limit state’s powers. Another side

Lawyers would say that Europe, Asia, and the United States of America are completely different. However, from the point of view of the citizens, the similarities in their daily lives are numerous, even if some fundamental differences remain. To begin with the most obvious similarity and example: in the USA, as well as in parts of Europe, citizens use a single currency, identical to the currency of their neighboring States. Just as in Europe, in the USA, several decisions remain the responsibility of the states, such as highway code, certain taxes, social welfare, minimum wages, and certain areas of justice. At the political level, some plea for further independence of the States in relation to the federal government, while others are bidding

The United States of America has enjoyed the strongest economy on the face of earth for quite a long time (Index Mundi, 2012). It has also enjoyed the portion of eminence on political platform. Having owned the valuable resources, the economy has gained high importance for both developing and developed nations. The currency of USD is assumed to be the common medium of transaction at international level and it is also a benchmark to calculate the value of other currencies.

Natural Law is a deontological moral theory (with several elements of teleological concepts) that determines the morality of an action based on the primary precepts, whilst also reflecting on human nature and rationally working out what leads us to happiness. One of the perceived strengths of Natural Law is the idea that is shares common human nature across the world. This means that we can uphold a moral standard that everyone must follow, rather than finding ourselves stuck with moral relativism or subjectivism. This is a benefit as if morality was subjective then any individual, such as Hitler would be able to justify his actions due to his interpretation of morality being subjective. Similarly, if morality is relative to a particular social culture, then what we think of being morally correct could simply just be a social construct, and we shouldn’t enforce this social construct onto others who follow their own moral law (an example of this is the Western Laws enforced in the Pitcairn trials). Because of a shared human moral code, Natural Law is one of the few moral codes that could state plainly and clearly that murder is wrong, without considering the time, place or scene. This argument, though having its merits, is a victim to what is known as the “is-ought” fallacy. This fallacy was introduced by David Hume and he said, “If something is a particular way by ‘nature’, it does not logically follow to conform. Therefore, even if we have a natural inclination to act in a

the individual currencies of participating member states. Describe three of the main ways that the euro affects the members of the EMU.

     In the present day, the world's economy is ever-changing and adjusting. Many different reasons control the reasons for this. The future of currency is something that can only be predicted and is not guaranteed. However, there are many determing factors behind the changes that can take place. Asia and North America are two continents that have economies that have recently changed or are in the midst of change.

In the aftermath of the 1957 Treaty , the European Economic Community (EEC) was established and customs barriers between the member states have been abolished. Member States throughout the Community, can “promote a harmonious development of economic activities, a continuous and balanced expansion, an increased stability, an accelerated raising of the standard of living and closer relations between them”. Therefore, in order for a common market to be established between Member States, the Community enacted some legislative provisions which aimed to a true harmonization of laws; incorporate different legal systems under a basic legal framework. The main issue arising is whether these legal provisions in accordance with the case law, ensured the free movement of goods within this market.

dollar. In dollarization, the country abolishes its own currency and uses a foreign currency, such as the U.S. dollar, for all domestic transactions. 6. Emerging market exchange rate regimes. High capital mobility is forcing emerging market nations to choose between free-floating regimes and currency board or dollarization regimes. What are the main outcomes of each of these regimes from the perspective of emerging market nations? There is no doubt that for many emerging markets a currency board, dollarization, and freely-floating exchange rate regimes are all extremes. In fact, many experts feel that the global financial marketplace will drive more and more emerging market nations towards one of these extremes. As illustrated by Exhibit 2.5, there is a distinct lack of “middle ground” left between rigidly fixed and freely floating. In anecdotal support of this argument, a poll of the general population in Mexico in 1999 indicated that 9 out of 10 people would prefer dollarization over a floating-rate peso. Clearly, there are many in the emerging markets of the world who have little faith in their leadership and institutions to implement an effective exchange rate policy.

To begin with the benefits of trade liberalization, while country starts to open the country borders for foreign trade with lowering tariffs and import restrictions, basically, the gains from import and export will be rise. Moreover, with the allowance of trading for foreigners who bring with them technology, investment and production skills inside borders of the country, country will achieve to fill up the lack of production skills and increase the amount of manufacturing goods, job opportunities for community, while sometimes foreign firms will benefit only from low labor costs. In the other words, a country will start to earn from comparative advantage as sector specialization and exporting goods while making sectoral transformation due to trade liberalization continuously which is also explained with an expansion of investment on research and development. Additionally, the industrialization degree of the manufacturing will be affected positively by Foreign Direct Investment (FDI) according to the country’s sector of comparative advantage. These processes can cause to make new job opportunities, boost in income per capita, advantages for consumers. All in all, these benefits can be listed as, (Arsalan Hasan,