The Code of Capital (with Katharina Pistor)

Pitchfork Economics with Nick Hanauer

Civic Ventures

Business, Government, News, Politics

4.8 • 1.5K Ratings

🗓️ 2 July 2024

⏱️ 33 minutes

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Summary

This week, Nick and Goldy talk to Katharina Pistor, a legal scholar and professor at Columbia Law School, about her book "The Code of Capital: How the Law Creates Wealth and Inequality.” Pistor sheds light on how the law shapes the distribution of power and wealth in society. They explore the way that law's prioritization of capital has changed over time and its contribution to rising economic inequality within and between nations. Pistor also explains how we can reconfigure the legal playing field to address economic inequality. Katharina Pistor is a legal scholar and author known for her expertise in the fields of law and finance. She is currently the Edwin B. Parker Professor of Comparative Law at Columbia Law School, where she also serves as the Director of the Center on Global Legal Transformation. Pistor has published extensively on topics such as property rights, financial regulation, and the role of law in shaping economic systems. Her most recent book, "The Code of Capital: How the Law Creates Wealth and Inequality," explores the ways in which legal systems around the world have been designed to benefit capital owners and perpetuate wealth inequality. Further reading: The Code of Capital: How the Law Creates Wealth and Inequality Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Transcript

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0:00.0	The rising inequality and growing political instability that we see today are the direct result of decades of bad economic theory.
0:10.0	It's time to build our economy from the bottom up and from the middle out, not the top down.
0:15.5	Middle out economics is the answer.
0:17.8	Because Wall Street didn't build this country.
0:20.1	Great middle class built this country.
0:22.2	The more the middle class thrives,
0:24.3	the better the economy is for everyone,
0:27.5	even rich people like me. This is pitchfork economics with Nick Hanauer, a podcast about how to build the economy from the middle out.
0:42.0	Welcome to the show.
0:44.0	We talk a lot about
0:48.0	about capitalism on this part, Nick, but you know what we haven't really discussed?
0:58.1	We haven't looked into, what the hell is capital?
1:01.4	Yeah, it's true. We sort of assume that we know what it is and where it comes from and what form it takes in the world.
1:08.2	It's money, right?
1:09.2	Like you're a venture capitalist.
1:10.7	So people think it's money or you know I guess if you're an economist you
1:18.7	originally the idea that it's the capital where you know Ricardo would have said it was the
1:24.8	physical equipment used in the process of production you know making that
1:31.2	distinction between financial capital and you know making that distinction between financial capital and you know
1:34.7	capital goods but it turns out it's a lot more complicated than that it it is
1:40.6	distressingly complicated and our guest today hopefully will provide a little bit more clarity.
1:48.5	Katerina Pistore is a legal scholar and known for expertise in fields of law and finance and she's the
	...

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