Cloth: 978-0-226-52527-3 | Paper: 978-0-226-52528-0 | Electronic: 978-0-226-52529-7
DOI: 10.7208/chicago/9780226525297.001.0001
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ABOUT THIS BOOK
Using comparative case studies that address the United States, China, Germany, Japan, Korea, and Russia, Curtis J. Milhaupt and Katharina Pistor argue that a disparate blend of legal and nonlegal mechanisms have supported economic growth around the world. Their groundbreaking findings show that law and markets evolve together in a “rolling relationship,” and legal systems, including those of the most successful economies, therefore differ significantly in their organizational characteristics. Innovative and insightful, Law and Capitalism will change the way lawyers, economists, policy makers, and business leaders think about legal regulation in an increasingly global market for capital and corporate governance.
AUTHOR BIOGRAPHY
Katharina Pistor is professor of law at Columbia Law School.
REVIEWS
“Original, important, and topical. Milhaupt and Pistor are drawing on their very considerable expertise by bringing together a wide range of different country contexts. Few others could cover America, Russia, western Europe and east Asia as they do here. They also make an important theoretical contribution to the debate over different national types of capitalism.”
“Two of the world’s best scholars in law and economic development have teamed up to explain how different governments try to promote economic growth. They focus on coordinating and protecting investors through corporate and securities laws and policies. The ‘institutional autopsies’—case studies of firm-level scandals around the world like Enron—engage the reader and draw the general out of the particular. You enjoy this book as you learn from it.”
TABLE OF CONTENTS
Preface
Introduction
PART I : FROM WEBER TO THE WORLD BANK, AND BEYOND
ONE / The Prevailing View: Impact, Assumptions, and Problems
TWO / Rethinking the Relation between Legal and Economic Development
PART II: INSTITUTIONAL AUTOPSIES
THREE / The Enron Scandal: Legal Reform and Investor Protection in the United States
FOUR / The Mannesmann Executive Compensation Trial in Germany
FIVE / The Livedoor Bid and Hostile Takeovers in Japan: Postwar Law and Capitalism at the Crossroads
SIX / Law, Growth, and Reform in Korea: The SK Episode
SEVEN / The China Aviation Oil Episode: Law and Development in China and Singapore
EIGHT / “Renationalizing” Yukos: Law and Control over Natural Resources in the Russian Economy
PART III: IMPLICATIONS AND EXTENSIONS
NINE / Understanding Legal Systems
TEN / Legal Change
ELEVEN / Conclusion
Notes
References
Index