The Global Protection Organisation (GPO) - A Proposal to Improve the Handling of Global Challenges

van Suntum, Ulrich (2021): The Global Protection Organisation (GPO) - A Proposal to Improve the Handling of Global Challenges.

Abstract

The paper proposes a new approach for making global contracts, mainly based on the Coase-theorem. In particular, it is argued that combining several, normally unrelated issues to a bargaining bundle could facilitate Pareto-efficient contracts that benefit all, even including future generations. For this ends, a new institution called Global Protection Agency (GPO) is suggested that should be organized quite similar to the WTO, however with a much larger scope of competences.A formal model is used to demonstrate how this could work.

• Item Type: MPRA Paper
• Language: English
• Keywords: Global warming;WTO;Coase-theorem
• Subjects: H - Public Economics > H7 - State and Local Government ; Intergovernmental Relations > H70 - General; K - Law and Economics > K0 - General > K00 - General; Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q5 - Environmental Economics > Q50 - General

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