For whatever the form of government, the ultimate source of sovereign power is the people, and all legitimate government must rest on their consent.
The recent run-up in the price of oil and other commodities only adds to the attraction of producing now while the going is good.Commodities are not the only source of sovereign wealth.
India has spent large sums on jobs and infrastructure projects, gradually convincing many war-weary civilians and politicians that they can regard regional elections not as a source of sovereign legitimacy for India but as a means to control their local affairs.
In the 18th century, no less than today, to affirm the rational will of the people as the source of sovereign power was to reject conceptions of politics premised on either the mutual exclusion of society and will (a politics determined by natural, historical or economic "necessity") or on the primacy of another sort of will (the will of a monarch, a priest, an elite).
The intrinsic contradiction between an institutionally infallible and humanly erring sovereign is the major source of tension in the Han Feizi (Pines 2013b).
In sharp contrast are micro-states, a direct result of the application of Woodrow Wilson's Fourteen Points and the principle of self-determination.The sources of sovereign legitimacy in nation-states, large or small, are not obvious in micro-states.
One of the initiatives seeking to provide a solution is a collaboration effort between ConsenSys, Microsoft and Blockstack Labs that aims to create an open source, self-sovereign, blockchain-based identity system.
"Both peoples can then live peacefully side by side, each in their own sovereign state, without being a source of fear for the other," the patriarchs of the major Jerusalem churches said in one joint statement.
It attempts to challenge the claim that an external standard of morality prevents God from being sovereign by making him the source of morality and his character the moral law.
This would be combined with special purpose investment vehicles, also insured by the EFSF, attracting money from sovereign wealth funds and other sources.
