The paper is a tentative response to a question suggested by the director of the Torino seminar of political theory: «Rule of Law or Rule of Capital?» The answer to this interrogation is articulated by differentiating three grades or densities of the concept of Rule of Law as applied to three areas or provinces of law: national or domestic law, international law and the so called global law. The nine situations or contexts resulting from this double differentiation result in a variety of relations between law and capital. The rather pessimistic conclusion is that, except for the area of domestic law, and in a few countries, the law has not yet been able to impose its rules on the activities of capital.

