Lawless Capitalism: The Subprime Crisis and the Case for an Economic Rule of Law

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NYU Press, Dec 3, 2012 - Law - 304 pages
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In this innovative and exhaustive study, Steven A. Ramirez posits that the subprime mortgage crisis, as well as the global macroeconomic catastrophe it spawned, is traceable to a gross failure of law.

The rule of law must appropriately channel and constrain the exercise of economic and political power. Used effectively, it ensures that economic opportunity isn’t limited to a small group of elites that enjoy growth at the expense of many, particularly those in vulnerable economic situations. In Lawless Capitalism, Ramirez calls for the rule of law to displace crony capitalism. Only through the rule of law, he argues, can capitalism be reconstructed.

 

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Contents

Introduction
1
1 A Revolution in Economics but Not in Law
17
2 The Corrupted Corporation
47
3 Animal Spirits and Financial Regulation
74
4 Rigged Globalization
105
5 The Costs of Economic Oppression
131
6 The Crisis in Crisis Management
159
7 The Potential for an Economic Rule of Law
184
Optimized Legal Infrastructure and the End of Scarcity
217
Notes
221
Index
277
About the Author
286
Copyright

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About the author (2012)

Steven A. Ramirez is Professor of Law and Associate Dean at Loyola University of Chicago, where he also directs the Business and Corporate Governance Law Center. 

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