000			01712nam a22002297a 4500
005			20200302151613.0
008			200225b xxu||||| |||| 00| 0 eng d
020			_a9780691147925
040			_cIIT Kanpur
041			_aeng
082			_a343.07 _bC789s
100			_aCooter, Robert D.
245			_aSolomon's knot _bhow law can end the poverty of nations _cRobert D. Cooter and Hans-Bernd Schäfer
260			_aPrinceton _bPrinceton University Press _c2012
300			_axiv, 325p
440			_aKauffman foundation series on innovation and entrepreneurship
520			_aSustained 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.
650			_aLaw and Economics
650			_aPoverty
700			_aSchäfer, Hans-Bernd
942			_cBK
999			_c561424 _d561424