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24 Mich. St. Int'l L. Rev. 1 (2015-2016)

handle is hein.journals/mistjintl24 and id is 1 raw text is: CYCLING TO ECONOMIC FREEDOM?: AN ANALYSIS OF PRIVATIZATION, NATIONALIZATION, AND EXPROPRIATION IN ARGENTINA, MEXICO, AND THE UNITED KINGDOM Tanya Kapoor* Although privatization has exerted a stronghold over economic policy, several countries have cycled back and forth between privatization and nationalization. In several Latin American countries, governments have conducted a round of privatization followed by expropriation and nationalization. By contrast, in the United Kingdom, privatization- nationalization cycles are less common, and private property rights are more likely to remain entrenched. This Article analyzes privatization and nationalization-and by extension, private property rights from a comparative constitutional perspective. Through analyzing rounds of privatizations in three countries Argentina, Mexico, and the UK-this Article argues that two constitutional mechanisms impact the privatization-nationalization cycle: executive power and legislative entrenchment. Large grants of executive power and a lack of legislative entrenchment can allow governments to swiftly alter private property rights, shifting economic regimes from privatization to nationalization. Thus, this Article suggests that privatizing nations curb executive power and entrench legislation to advance private property rights. By establishing constitutional safeguards on executive and legislative power, privatizing governments are more likely to promote private property rights, entrench privatization, and foster economic development in their countries. * Yale Law School, J.D. expected 2016; University of Maryland, B.S. & B.S. 2013. I am indebted to Professors Steven Calabresi and Akhil Amar, whose teaching inspired this project, and to my parents, Shiv and Aarti Kapoor, for encouraging me to publish. My deepest thanks also extend to Kristian Sooklal, who read a copy of this Article before it was published. This Article is a byproduct of the tremendous support and guidance I received from Kyla Barranco, Simone Fabiilli, and the editors of the Michigan State International Law Review. Lastly, I dedicate this Article to my sister, Divya Kapoor, who inspires me every day.

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