International economic law is the regulatory regime for global capitalism. But what is capitalism and how did to rise to the status of sacred economic model? In this episode, I examine first the nature of markets as political and economic spaces. Next, I discuss historical developments in Europe that allowed for the emergence of a 'rational legal system'. Following the lead of Max Weber, I explore the characteristics of a rational legal system and its centrality in the establishment of a capitalist model of economic and social organisation.