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One new branch of the theory of Public Choice, Constitutional Economics, aims to limit the discretionary power of the governments. In this article we suggest that this approach can be applied to the civilized world through international agree- ments such as the GATT and the Maastricht Treaty and international organizations like OECD, IMF and WTO. Of course the best solution is marketled solution. However, as the market led solution needs a long time to be realized, the second best solution is to reach this goal, for the time being, through unternational agreements and institutions. We call this an 'International Constitutional Order".
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