Please join a virtual Matrix Distinguished Lecture by Katharina Pistor, Edwin B. Parker Professor of Comparative Law at Columbia University and Director of the Center on Global Legal Transformation. A Q&A will follow the lecture.
Professor Pistor will discuss her book, The Code of Capital: How the Law Creates Wealth and Inequality, which argues that the law selectively “codes” certain assets, endowing them with the capacity to protect and produce private wealth. The book was lauded as one of the Financial Times’ Best Books of 2019 in the field of economics and one of the Financial Times’ Readers’ Best Books of 2019.
This event is co-sponsored by the Berkeley Network for a New Political Economy. The conversation will be moderated by Steven K. Vogel, Chair of the Political Economy Program, the Il Han New Professor of Asian Studies, and a Professor of Political Science at the University of California, Berkeley.
To purchase the book at a 30% discount with free shipping, click here and use the code UCBSSM-FG before 10/31/20.
About the Book
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.
Katharina Pistor is the Edwin B. Parker Professor of Comparative Law and director of the Center on Global Legal Transformation at Columbia Law School. She is the coauthor of Law and Capitalism: What Corporate Crises Reveal about Legal Systems and Economic Development around the World and the coeditor of Governing Access to Essential Resources. She lives in New York City.