Constitutionalism or Global Governance? Pragmatism in the Pursuit of Sustainable Development

Abstract

The study aims to evaluate and contrast, in light of the great global challenges of today, the current principles and elements related to the search for better global governance, vis-a-vis the theoretical proposition in favor of building a model of global constitutionalism. The legal-theoretical method and deductive reasoning were used alongside a bibliographic research technique. The work presents the argument and factual and documentary evidence that the pragmatic path to face the challenge of a global sustainable development must be based more on the evolution and improvement of the pillars of global governance than on the generalization of legal principles and postulates of the constitutionalism on a world scale. The work also argues and brings concrete evidence that a pragmatic and tangible path to the development of better global governance is already being followed by the markets themselves and, in particular, by the evolution of the principles and regulations that guide decisions on the allocation of financial resources. The research is justified due to the urgency of environmental issues and their large-scale impact on global economic development, their social consequences and implications for the preservation of human rights.