This article–a unique collaboration between political philosophy and empirical analysis–applies the problem of the second best to the subject of global governance reform. The problem of the second best raises a concern about an “approximation trap” where steps intended to move closer to...

This chapter, for a book focused on the future of the World Trade Organization, discusses three ways that global economic law and corresponding transnational dispute settlement systems have been constructed across time: via private contracting, inter-state contracting, or through principled...