Sublime

Everywhere we probed a little deeper, we found the core institutions of private law: contract, property, collateral, trust, corporate, and bankruptcy law.

who has access to and control over the legal code and its masters:

Economies that combined all these institutional innovations – banks, bond markets, stock markets, insurance and property-owning democracy – performed better over the long run than those that did not, because financial intermediation generally permits a more efficient allocation of resources