Sovereign individual

It is likewise deserving of particular notice, that the fate of individual sovereigns is often bound up and implicated, as it were, with the circumstances of national prosperity or affliction. The condition of him who is most eminent for his station is signally marked out for the illustration of the Divine judgments, while, at the same time, he is rendered instrumental to the reward or condemnation of his subjects, —to the blessings or calamities, to which they are exposed. 

Of course even the nineteenth-century conservation and public health movements had ancient sources. Around 530 ad, the Roman emperor Justinian codified the legal basis for natural resource protection - the idea that air, water, oceans, wildlife, and more are owned by all of us together and none of us individually, and that the sovereign has a duty to protect and conserve these resources for present and future generations. The code of Justinian eventually led to the modern public trust doctrine of environmental management and protection, described below. 

None incorporates statutory limitations on sovereign authority with regard to the punishment of crimes. Now it is obvious that the legislature has no right to criminalise actions which are not a direct, immediate and serious breach of the rights of either an individual or of society. 

Most sovereign nations have their own internal agencies to establish and enforce standards. However, in our present world of international cooperation and trade, standards are tending towards uniformity across national boundaries. This internationalization of standards is especially true since formation of the European Common Market. The aim here is to harmonize the standards of individual nations by promulgating directives for medical devices that address Essential Requirements (Freeman, 1993) (see below). Standards in other areas of the world (Asia, Eastern Europe) are much more fragmented, with each country specifying regulations for its own manufactured and imported medical devices. 

The additional compensation or spread over the benchmark yield that investors will require reflects the additional risks the investor faces by acquiring a security that is not issued by a sovereign government. These yields spreads (discussed later in the chapter) will depend not only on the risks an individual issue is exposed to but also on the level of benchmark yields, the market s risk aversion, the business cycle, and so on. 

Additionally, the common law remedy can only be used by states to abate the interstate nuisance. Individual citizens, even those whose property was being damaged, cannot sue under this particular theory, for the common law theory is based solely on a state s sovereign interest in our government s federal system. 

Nations in general, even under governments of the more popular kind, usually commit the administration of their finances to single men or to boards composed of a few individuals, who digest and prepare, in the first instance, the plans of taxation, which are afterwards passed into laws by the authority of the sovereign or Legislature. 

Haddad, E. (2008) The Refugee The Individual between Sovereigns. Cambridge Cambridge University Press. 

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