In this episode of Trusts Talk, Mark Bennett and Adam Hofri-Winogradow are joined by Felix Chang, the Robert J. Watkins/Procter & Gamble Professor of Law at the Moritz College of Law at Ohio State University, to discuss his chapter, "Economic Analysis of Trust Law," in the Oxford Handbook of Comparative Trust Laws, co-edited by Adam and Mark with Lusina Ho and Richard Nolan. Felix traces an arc from microeconomic to macroeconomic analysis of trusts, from John Langbein's contractarian account and Robert Sitkoff's agency costs theory, through to work treating the trust as an input into the wider economy and a vehicle for entrenching wealth inequality across generations. The conversation ranges across asset protection trusts and settlor-retained powers, the asymmetry between contractual and tort creditors, the long-running contract-versus-proper ...