"It's a short, vital introduction to ISDS history and use, the shocking ways in which corporations have used it to bend governments to their will, and the total lack of justification for using such mechanisms in developed, stable countries." -- The Week
International trade deals have swiftly emerged this year as politically controversial, attracting both condemnation and confusion from voters all over the world.
In this book, investigative journalist Haley Sweetland Edwards focuses on one crucial aspect of these massive agreements: a powerful provision called Investor-State Dispute Settlement, which allows foreign corporations to sue sovereign nations before little-known supranational arbitration tribunals.
Edwards makes the case that these tribunals (or "shadow courts"), which were designed 50 years ago to protect foreign investors' property rights abroad, are now being exploited by multinational corporations at the expense of sovereign nations and their citizens. From the 1960s to 2000, corporations brought fewer than 40 cases through these tribunals. In the last 15 years, they've brought nearly 650.
In the course of her reporting, Edwards interviewed dozens of policymakers, activists, and government officials in Argentina, Canada, Bolivia, Ecuador, the European Union, and in the Obama administration. The result is a major story about a significant shift in global power.
Industry Reviews
"Haley Sweetland Edwards explains the history of global shadow courts and how these courts have spun out of control, threatening the interests of citizens everywhere including in the United States. Her fantastic book is exactly what long-form journalism is meant to do, to move beyond current events and provide historical perspective that aims at future reform. Shadow Courts should be at the top of the reading list of all those interested in redesigning trade agreements to be in the public interest." -- Jeffrey D. Sachs, University Professor, Columbia University, author of The End of Poverty>BR>
"One of those wonderful, short books from Columbia Global Reports." - Felix Salmon, host of Slate Money
"I read it in one night and felt like underlining every word of every page." -- Cathy O'Neil, Weapons of Math Destruction: How Big Data Increases Inequality and Threatens Democracy
"It's a short, vital introduction to [Investor-state dispute settlement] history and use, the shocking ways in which corporations have used it to bend governments to their will, and the total lack of justification for using such mechanisms in developed, stable countries." —The Week
"SHADOW COURTS, a new book by Time magazine's Haley Edwards, shows how ISDS threats have strained support for free trade around the world." - Todd Tucker, Politico
"Time investigative reporter Edwards charges that the controversial Investor-State Dispute Settlement tribunals at the heart of many current trade deals represent a major shift in global relations in favor of private corporate interest.... Edwards does a great service for the public by turning the spotlight of disclosure on this dark corner of international relations." - Kirkus Reviews
