In this episode, Michael Lester chats with Katharina Pistor, professor of comparative law at Columbia University, about how legal doctrines shape capitalism and concentrate power. Drawing on her landmark works, including The Code of Capital (Princeton, 2019) and The Law of Capitalism (Yale, 2025), Katharina discusses the tensions between law, economics, and democracy, challenging the Chicago School’s dominance and exploring ways to transform the legal framework to promote more equitable wealth and opportunity.