chapter  1
A brief history of the notion of public policy in English common law
Pages 16

This chapter analyzes the established norms, such as jus cogens, human rights, and norms against corruption. The idea behind jus cogens seems to be on a par with transnational public policy. Jus cogens is the most widely-known yet most controversial and discussed concept in international law. The Permanent Court of International Justice and the International Court of Justice have grappled with human rights issues in several cases, adopting various methods in each of these cases. Issues related to corruption and fraud occur frequently in the context of international dispute resolution. Despite the triumph of neoliberalism and the end of structural bipolarity in international relations, the chapter explains a growing number of economic prohibitions in the form of national economic sanctions and UN Security Council Resolutions. Sovereign debt restructuring is another pervasive problem for the global economy. In a global market, states increasingly need to develop their capital markets, which they mainly do through issuing bonds.