Can We Re-Code Capitalism? Lessons from Katharina Pistor’s Groundbreaking Book

Is it possible to rewrite the rules of capitalism so that they work for everyone, not just the elite? In 'The Code of Capital,' Katharina Pistor argues that the answer is yes—but only if we understand how the system really works. This blog combines her insights with the latest ideas from economic reformers, legal scholars, and social movements to offer a roadmap for change.

The first step is transparency. For too long, the legal coding of capital has happened behind closed doors, in elite law firms and government offices. Opening up the process—through public registries, accessible contracts, and independent oversight—would make it harder for the powerful to hide assets or rig the rules. Next comes democratization: giving workers, tenants, and consumers a real voice in how property rights, contracts, and bankruptcy laws are written and enforced.

Policy ideas abound. Global tax coordination could close loopholes that let corporations and billionaires avoid paying their fair share. Stronger antitrust enforcement could break up digital monopolies and restore competition. New forms of public ownership—like community land trusts or data cooperatives—could ensure that critical resources serve the public, not just private profit.

Change is already happening. Activists are demanding transparency in real estate and finance. Law professors are teaching new generations to question the status quo. Policymakers in Europe and the US are proposing wealth taxes, universal basic income, and digital rights. The path is long, but the stakes are high: if we want a future where opportunity is real and justice is more than a slogan, we must recode the law of capital itself.