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The dissertation identifies a body of public policies described as "politically intractable." These are policies which are of clear public benefit, but which involve high political costs to those who enact them. It is suggested that there are two routes to political tractability in the passage of these policies. The "low-risk" strategy entails insulating policy-makers from pressures applied by alienated vested interests. The "high-risk" strategy arises where actors responsible for passing intractable policies risk alienating vested interests if enacting the policy assists them to realize higher-order objectives. These higher-order objectives involve games of institutional design--attempts to reform or preserve (in the face of threat) the institutional structure of the state. The dissertation examines a subset of politically intractable policies called watershed trade policies. Watersheds are instances of substantial trade liberalization which reverse a long-standing tradition of protectionism. The dissertation explains the passage of three watersheds: Britain's repeal of the Corn Laws, the US Reciprocal Trade Agreements Act, and Canada's Free Trade Implementation Act, in the context of the high-risk strategy. In these cases, trade liberalization is explained as a by-product of games of institutional design undertaken by political entrepreneurs within the state.

This research analyses the impact and materiality of South Africa’s choice not to ratify the CISG on its trade as well as relations with other states. As the point of departure, the broader events leading up to the creation of the CISG will be examined as well as UNCITRAL’s mandate and the development of trade in the local and global context. At present, the CISG has been ratified by 85 states. The decisions by common law jurisdictions such as the UK and India not to ratify the CISG as well as the delay by Brazil and Japan will be discussed. The legal, business and political or policy reasons for and against the ratification of the CISG are investigated which focuses on aspects such as legal certainty, uniformity of laws and the reduction of legal costs. An investigation is carried out regarding the historical foundations of the South African law of contract to this framework sets the tone for a comparison between the South African law and the provisions of the CISG. Lastly, a comparison is drawn between the provisions of the CISG and the South African law with specific emphasis on the remedies of specific performance and the right to claim damages which culminates in an overall conclusion that the South African law is compatible with the CISG insofar as remedies for breach of contract are concerned. / Mercantile Law / LL. M. (International Economic Law)