“Social Dumping Revisited: Some Lessons from Delaware?”

Barnard, Catherine. (1999) “Social Dumping Revisited: Some Lessons from Delaware?”. In: UNSPECIFIED, Pittsburgh, Pennsylvania. (Unpublished)

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Abstract

In this article I intend to examine the application of the competing theories of interjurisdictional competition to Delaware corporation law and consider the lessons that they may provide for the adoption of European Community legislation. I intend to take social policy as my case study, although similar arguments may apply in the context of monetary dumping (competitive devaluation), and fiscal dumping (distortionary subsidies to industry) [Padraig Flynn 1997]. Social policy is the area where concerns about race to the bottom have been most clearly articulated and there are inevitable overlaps between employment law and company law-as the worker participation debate in the context of the draft Fifth Company Directive and the European Company Statute makes clear. I intend to argue that despite the perception that a race to the bottom is occurring in the EU, there is little evidence of it in practice, although it does represent a useful bargaining tool for employers and Member States. I will then consider why a theory with such resonance in Delaware might not accurately represent the position in the EU.

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