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The Rule of Law, Freedom, and Prosperity

19 Pages Posted: 22 Aug 2002  

Todd J. Zywicki

George Mason University - Antonin Scalia Law School, Faculty; PERC - Property and Environment Research Center

Date Written: 2002

Abstract

After decades of neglect, interest in the nature and consequences of the rule of law has revived in recent years. In the United States, the Supreme Court's decision in Bush v. Gore has triggered renewed interest in the nature of the rule of law in the Anglo-American tradition. Meanwhile, economists have increasingly come to realize the importance of political and legal institutions, especially the presence of the rule of law, in providing the foundation of freedom and prosperity in developing countries. The emerging economies of Eastern Europe and the developing world in Latin America and Africa have thus sought guidance on how to grow the rule of law in these parts of the world that traditionally have lacked its blessings. This essay summarizes the philosophical and historical foundations of the rule of law, why Bush v. Gore can be understood as a validation of the rule of law, and explores the consequences of the presence or absence of the rule of law in developing countries.

JEL Classification: K00, O10, O17, H10

Suggested Citation

Zywicki, Todd J., The Rule of Law, Freedom, and Prosperity (2002). George Mason Law & Economics Research Paper No. 02-20. Available at SSRN: https://ssrn.com/abstract=323720 or http://dx.doi.org/10.2139/ssrn.323720

Todd J. Zywicki (Contact Author)

George Mason University - Antonin Scalia Law School, Faculty ( email )

3301 Fairfax Drive
Arlington, VA 22201
United States
703-993-8091 (Phone)
703-993-8088 (Fax)

PERC - Property and Environment Research Center

2048 Analysis Drive
Suite A
Bozeman, MT 59718
United States

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