Our guest today suggests that law is the cloth from which capitalism is cut. And lawyers are the tailors! From the enclosure movement to the financial crisis, law has been the engine of capital accumulation.
Katharina Pistor is a Professor of Comparative Law at Columbia Law School and the author of the book, The Code of Capital: How the Law Creates Wealth and Inequality, about 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.
Katharina and Greg discuss the nuanced ways in which legal coding privileges certain groups. Katharina lays out the path of capital developing from land ownership and its metamorphosis into powerful financial instruments. Katharina and Greg analyze the legal frameworks that have contributed to the economic tapestry of today. They conclude with a discussion of the intricacies of global legal systems and their sway over commerce and society.
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