Code of Capital: How the Law Creates Wealth and Inequality

The Code of Capital explores how the law shapes the distribution of wealth and why the widening wealth gap between the holders of capital and everybody else is a result of this little-known activity. It also paints a troubling portrait of the pervasive global nature of the code, the people who shape it, and the governments that enforce it.

Format: Paperback / softback
Length: 320 pages
Publication date: 03 November 2020
Publisher: Princeton University Press

The law plays a significant role in shaping the distribution of wealth in society. In her book, "The Code of Capital," Katharina Pistor delves into the intricate mechanisms behind the creation of capital and its impact on the widening wealth gap. Through exclusive insights gained from private attorney offices, Pistor reveals how 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 individuals who shape it, and the governments that enforce it.

Pistor argues that the law serves as a powerful tool for those with capital to accumulate and maintain their wealth, while those without access to capital are left behind. She highlights the ways in which the legal system promotes inequality and perpetuates the cycle of poverty. For example, predatory lending practices, restrictive zoning laws, and tax policies that favor the wealthy can all contribute to the concentration of wealth in a few hands.

Furthermore, Pistor argues that the code of capital is not just a problem for developed countries but also for developing countries. She notes that the global financial system is designed to benefit wealthy investors and corporations, leaving developing countries at a disadvantage. This can lead to economic instability, political unrest, and social unrest.

To address these issues, Pistor calls for a more equitable and just legal system. She advocates for policies that promote wealth distribution, such as universal basic income, progressive taxation, and stronger consumer protection laws. She also suggests that individuals and communities should become more aware of the code of capital and work to challenge it.

In conclusion, "The Code of Capital" is a thought-provoking book that sheds light on the ways in which the law shapes the distribution of wealth. Pistor's insights provide a powerful critique of the current legal system and offer a roadmap for creating a more equitable and just society. By understanding the code of capital and working to challenge it, we can work towards a more prosperous and sustainable future for all.

Weight: 490g
Dimension: 155 x 232 x 24 (mm)
ISBN-13: 9780691208602