"The Rule of Law makes economic
life more predictable and helps to promote prosperity and rising living
standards. ..... Thus, it is the rightful place of the law to set the rules
of the game and make economic life more predictable by protecting the security or
rights to property and contract...
However, the law should not reward opportunistic
behavior or set too low an implicit price on violating people's property
and contract rights ....
When the objective of a state's legal system
wrongly becomes to redistribute wealth,
or change the winners and
losers after the fact, this will distort people's incentives and create an
environment where people cannot readily predict whether they will enjoy the
benefits of their own good decisions. This severs ties between the rule of
law and economic growth..." p-86.
The Rule of Law" - Copyright
2009, The Public Policy Foundation of West Virginia"