Is there a future for the law? In this book, Florian Grisel addresses one of the most fascinating questions raised by social scientists in the past few decades. Since the 1980s, socio-legal scholars have argued that governance based on social norms (or “private governance”) can offer an alternative to regulation by the law. On this account, private governance could be socially efficient and even optimal compared with other modes of governance. The Limits of Private Governance supplements this optimistic analysis of private governance by assessing the long-term evolution of a private...