The Tool Kit  | The Laws of Capitalism Episode 4
Channel: New Economic Thinking
Date: 2022-11-16

The law is not always handed down from above, but often emerges from below, sometimes outside the courts. 

Private owners of capital can harness the centralized means of coercion (like litigating in State courts) to make their rights effective.  But it can also be pursued in a more decentralized fashion, with parties picking the law and the forum.  Prof. Pistor surveys the various venues where legal claims are pursued, but also where law is constructed. The law and legal institutions are not static, but evolve and expand by an incremental process, usually driven by interested parties. It need not be by legislation - they can change the meaning of a law by renegotiating its interpretation and application. 

Learn more at http://lawsofcapitalism.org/