Pistor and Milanovic: The Codes of Capital and Inequality A Commentary on Law, Economics and A New Design for 21 stc. Capitalism

Abstract

Almost in tandem, two scholars Katharina Pistor and Blanko Milanovic released related work on economics, law and inequality to discuss how the legal rights of capital have become so deeply entrenched in the operational treatises of the international legal and financial system that an unbundling of those privileges is recommended in this century to prevent the further unweaving of the very foundations of democratic institutions. The perspectives of both authors offer a unique understanding of the growing dynamics of the “politics of resentment” and the challenging options as “hyper-globalization” and the demise of its neoliberal paradigm continues to come under closer scrutiny—the policy choices and rule of law options outlined support the call for a new legal constitution for capitalism in this century.