Details

<p>In<br>this innovative and exhaustive study, Steven A. Ramirez posits that the<br>subprime mortgage crisis, as well as the global macroeconomic catastrophe it<br>spawned, is traceable to a gross failure of law.<br><br>The<br>rule of law must appropriately channel and constrain the exercise of economic<br>and political power. Used effectively, it ensures that economic opportunity<br>isn’t limited to a small group of elites that enjoy growth at the expense of<br>many, particularly those in vulnerable economic situations. In Lawless Capitalism, Ramirez calls for<br>the rule of law to displace crony<br>capitalism. Only through the rule of law, he argues, can capitalism be<br>reconstructed.</p>