Law and Economic Development

Kaushik Basu is Professor of Economics and the Carl Marks Professor of International Studies in the Economics Department and the SC Johnson College of Business, Cornell University, USA. From 2012 to 2016 he was Chief Economist of the World Bank. Prior to that, from 2009 to 2012, he was Chief Economic Advisor to the Government of India.

Educated at St. Stephen's College, Delhi, and the London School of Economics, Basu has published extensively in development economics, game theory, welfare economics and industrial organization. His recent books include The Republic of Beliefs: A New Approach to Law and Economics (published in 2018) and Policymaker's Journal: From New Delhi to Washington, D.C. (published in 2021).

Ajit Mishra teaches at the University of Bath, UK.  Educated at the Delhi School of Economics, he has been actively engaged in research and lecturing in development economics, public economics, and economic theory.He has taught at various institutions in India and the UK. He served as the Director of the Institute of Economic Growth, India.

Besides papers in leading journals, he has edited two books: Economics of Corruption and Markets, Governance and Institutions. He is an Associate Editor of the Journal of Economic Behavior and Organization.

Chapter 1: Introduction.- Chapter 2: Property of the Social Media Data.- Chapter 3: "A Giant Glob of Oily Ambiguity": On the Use of the Concept of Power in Economics.- Chapter 4: Temptation and Crime.- Chapter 5: Moral Costs of Corruption: A Review of the Literature.- Chapter 6: Reason-Giving and Rent-Seeking.- Chapter 7: Pandemic Preparedness and Response: Advancing Research, Development, and Ethical Distribution of New Treatments and Vaccines.- Chapter 8: Law and Industrial Policy in the Age of (de)Globalization: The Perspective of IP Protection.- Chapter 9: Neither Crime nor (much) Punishment: India's Cartel Penalty Practices.- Chapter 10: Legal Challenges for Corporations in the 21^st Century.