Solomon's knot : how law can end the poverty of nations / Robert D. Cooter, Hans-Bernd Schafer.

Format:

Book

Author/Creator:

Cooter, Robert.

Contributor:

Schäfer, Hans-Bernd.

Series:

The Kauffman Foundation Series on Innovation and Entrepreneurship

Kauffman Foundation series on innovation and entrepreneurship

Language:

English

Subjects (All):

Economic development.

Law and economics.

Law--Economic aspects.

Law.

Poverty.

Physical Description:

1 online resource (343 p.)

Edition:

Course Book

Place of Publication:

Princeton : Princeton University Press, c2012.

Language Note:

English

Summary:

Sustained growth depends on innovation, whether it's cutting-edge software from Silicon Valley, an improved assembly line in Sichuan, or a new export market for Swaziland's leather. Developing a new idea requires money, which poses a problem of trust. The innovator must trust the investor with his idea and the investor must trust the innovator with her money. Robert Cooter and Hans-Bernd Schäfer call this the "double trust dilemma of development." Nowhere is this problem more acute than in poorer nations, where the failure to solve it results in stagnant economies. In Solomon's Knot, Cooter and Schäfer propose a legal theory of economic growth that details how effective property, contract, and business laws help to unite capital and ideas. They also demonstrate why ineffective private and business laws are the root cause of the poverty of nations in today's world. Without the legal institutions that allow innovation and entrepreneurship to thrive, other attempts to spur economic growth are destined to fail.

Contents:

Frontmatter

Contents

Preface

Acknowledgments

Chapter 1. It's about the Economy

Chapter 2. The Economic Future of the World

Chapter 3. The Double Trust Dilemma of Development

Chapter 4. Make or Take

Chapter 5. The Property Principle for Innovation

Chapter 6 Keeping What You Make-Property Law

Chapter 7 Doing What You Say-Contracts

Chapter 8. Giving Credit to Credit-Finance and Banking

Chapter 9. Financing Secrets-Corporations

Chapter 10. Hold or Fold-Financial Distress

Chapter 11. Termites in the Foundation-Corruption

Chapter 12. Poverty Is Dangerous-Accidents and Liability

Chapter 13. Academic Scribblers and Defunct Economists

Chapter 14. How the Many Overcome the Few

Chapter 15. Legalize Freedom-Conclusion

Notes

Bibliography

Index

Notes:

Description based upon print version of record.

Includes bibliographical references (p. 299-311) and index.

ISBN:

9781283639453

1283639459

9781400839681

1400839688

OCLC:

812251835