Law and capitalism

de Curtis J. Milhaupt, Katharina Pistor

"Law and Capitalism examines contemporary corporate governance crises in six countries to shed light on the interaction of legal systems and economic change. This book debunks the simplistic view of law's instrumental function for financial market development and economic growth." "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 non-legal mechanisms has supported economic growth around the world. Their 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. 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."--book jacket.