The Code of Capital: How the Law Creates Wealth and Inequality

Katharina Pistor's The Code of Capital examines how law shapes wealth and inequality globally. The book argues that law, specifically private law, is the fundamental mechanism creating and distributing wealth, not just markets. Pistor traces the historical evolution of legal tools—like property rights, contracts, and corporate structures—showing how they've been used to create and protect capital, often at the expense of broader societal well-being. She further explores how these legal tools are used in different contexts, from land ownership to modern financial instruments, illustrating the power of legal coding in shaping global capitalism. Finally, the book considers the implications of this system, including questions of access, inequality, and the potential role of digital technologies in reshaping the future of capital.