Normal view MARC view ISBD view

Solomon's knot : how law can end the poverty of nations

By: Cooter, Robert D.
Contributor(s): Schäfer, Hans-Bernd.
Material type: materialTypeLabelBookSeries: Kauffman foundation series on innovation and entrepreneurship. Publisher: Princeton Princeton University Press 2012Description: xiv, 325p.ISBN: 9780691147925.Subject(s): Law and Economics | PovertyDDC classification: 343.07 | C789s 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 Schafer 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 Schafer 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.
List(s) this item appears in: New arrival list Feb. 24 to March 01, 2020
    average rating: 0.0 (0 votes)
Item type Current location Collection Call number Status Date due Barcode Item holds
Books Books P K Kelkar Library, IIT Kanpur
General Stacks 343.07 C789s (Browse shelf) Available GB1840
Total holds: 0

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 Schafer 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 Schafer 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.

There are no comments for this item.

Log in to your account to post a comment.

Powered by Koha