Recent high-profile corporate scandals—such as those involving Enron in the United States, Yukos in Russia, and Livedoor in Japan—demonstrate challenges to legal regulation of business practices in capitalist economies. Setting forth a new analytic framework for understanding these problems, Law and Capitalism examines such contemporary corporate governance crises in six countries, to shed light on the interaction of legal systems and economic change. This provocative book debunks the simplistic view of law’s instrumental function for financial market development and economic growth.             Using comparative case studies that address the United States, China, Germany, Japan, Korea, and Russia, Curtis J. Milhaupt and Katharina Pistor argue that a disparate blend of legal and nonlegal mechanisms have supported economic growth around the world. Their groundbreaking findings show that law and markets evolve together in a “rolling relationship,” and legal systems, including those of the most successful economies, therefore differ significantly in their organizational characteristics. Innovative and insightful, Law and Capitalism will change the way lawyers, economists, policy makers, and business leaders think about legal regulation in an increasingly global market for capital and corporate governance. 

Law & Capitalism: What Corporate Crises Reveal about Legal Systems and Economic Development around the World

Business & Money

Pistor, Katharina

Milhaupt, Curtis J.

Economics

University of Chicago Press

The Code of Capital: How the Law Creates Wealth and Inequality

A compelling explanation of how the law shapes the distribution of wealth
Capital is the defining feature of modern economies, yet most people have no idea where it actually comes from. What is it, exactly, that transforms mere wealth into an asset that automatically creates more wealth? The Code of Capital explains how capital is created behind closed doors in the offices of private attorneys, and why this little-known fact is one of the biggest reasons for the widening wealth gap between the holders of capital and everybody else.
In this revealing book, Katharina Pistor argues that the law selectively “codes” certain assets, endowing them with the capacity to protect and produce private wealth. With the right legal coding, any object, claim, or idea can be turned into capital―and lawyers are the keepers of the code. Pistor describes how they pick and choose among different legal systems and legal devices for the ones that best serve their clients’ needs, and how techniques that were first perfected centuries ago to code landholdings as capital are being used today to code stocks, bonds, ideas, and even expectations―assets that exist only in law.
A powerful new way of thinking about one of the most pernicious problems of our time, The Code of Capital explores the different ways that debt, complex financial products, and other assets are coded to give financial advantage to their holders. This provocative book paints a troubling portrait of the pervasive global nature of the code, the people who shape it, and the governments that enforce it.

Princeton University Press

A compelling explanation of how the law shapes the distribution of wealth What is it that transforms a simple object, an idea, or a promise to pay into an asset that creates wealth? Katharina Pistor explains how, behind closed doors in the offices of private attorneys, capital is created--and why this little-known activity is one of the biggest reasons for the widening wealth gap between the holders of capital and everybody else. A powerful new way of thinking about one of the most pernicious problems of our time, The Code of Capital explores the various ways that debt, complex financial products, and other assets are selectively coded to protect and reproduce private wealth. This provocative book paints a troubling portrait of the pervasive global nature of the code, the people who shape it, and the governments that enforce it.

The Rule Of Law And Economic Reform In Russia (John M. Olin Critical Issues Series)

What impact has Russia's chosen path of reform had on the development of law after the collapse of the communist regime? This collection of essays examines how Russia's distinctive traditions of law—and lawlessness—are shaping the current struggle for economic reform in the country. Nine renowned scholars, chosen from specialties in history, political science, law, and economics, expertly address the question.By drawing on the experiences of other transition countries and of developed market economies within the context of Russian history, these essays put Russia's transition since 1991 into clearer perspective. This book compares Russia's legal tradition with the Western legal tradition; distinguishes Russia's progress in commercial law reform from that of other transition countries; and explores the politics of government as well as inside enterprises surrounding corporate law reform in prerevolutionary Russia, during perestroika, and during Russia's ambitious mass privatization program.Using comparative data, the authors assess the impact on economic reform programs of highly centralized presidential constitutions versus parliamentary constitutions. The enormous challenge posed by mounting crime and corruption is analyzed, and the economic causes and possible remedies are discussed. As statutory law reform is only one element in legal reform, the book also explores the functioning of legal institutions, including the police, other public security forces, and private dispute settlement institutions.Jeffrey Sachs and Katharina Pistor provide a wide range of factual evidence and interpretations, which will greatly enhance the debate about Russia's path toward economic and legal reform.

Sachs, Jeffery

Westview Press

Multijuralism: Manifestations, Causes, and Consequences

At one level of generality, multijuralism is the coexistence of two or more legal systems or sub-systems within a broader normative legal order to which they adhere, such as the existence of civil and common law systems within the EU. However, at a finer level of analysis multijuralism is a more widespread or common phenomenon and a more fluid reality than the civil law/common law distinction suggests. The papers in this study are therefore rooted in the latter frame of reference. They explore various types of multijural manifestations from the harmonizing potential of international treaties to indigenous law and the use of hard and soft pluralism. In addition, the authors consider the external events which are not part of the processes of multijural adjustment but which serve to influence these processes. Included among these important external events are European integration, the growing importance accorded to human rights, the international practice of law, the growth of the Internet, the globalization of markets and the flow of immigrants. This volume represents some of the most current thinking in the area of multijuralism and is essential reading for anyone interested in the coexistence of legal systems or sub-systems.

Multijuralism

Breton, Albert

Salmon, Pierre

Ormeaux, Anne des

Foreign & International Law

Routledge

At one level of generality, multijuralism is the coexistence of two or more legal systems or sub-systems within a broader normative legal order to which they adhere, such as the existence of civil and common law systems within the EU. However, at a finer level of analysis multijuralism is a more widespread or common phenomenon and a more fluid reality than the civil law/common law distinction suggests. The papers in this study are therefore rooted in the latter frame of reference. They explore various types of multijural manifestations from the harmonizing potential of international treaties to indigenous law and the use of hard and soft pluralism. In addition, the authors consider the external events which are not part of the processes of multijural adjustment but which serve to influence these processes. Included among these important external events are European integration, the growing importance accorded to human rights, the international practice of law, the growth of the Internet, the globalization of markets and the flow of immigrants. This volume represents some of the most current thinking in the area of multijuralism and is essential reading for anyone interested in the coexistence of legal systems or sub-systems.

Der Code des Kapitals: Wie das Recht Reichtum und Ungleichheit schafft

Suhrkamp Verlag AG

See the best price to sell, buy, or rent books by Pistor, Katharina. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Books by Pistor, Katharina

See the best price to sell, buy, or rent books by Pistor, Katharina. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Law & Capitalism: What Corporate Crises Reveal about Legal Systems and Economic Development around the World

The Code of Capital: How the Law Creates Wealth and Inequality

The Code of Capital: How the Law Creates Wealth and Inequality

The Rule Of Law And Economic Reform In Russia (John M. Olin Critical Issues Series)

Multijuralism

Multijuralism: Manifestations, Causes, and Consequences

Der Code des Kapitals: Wie das Recht Reichtum und Ungleichheit schafft