Answering Challenges to Advanced Economies

The Rule of Law: What is it and why is it beneficial? | Chapter 4

The rule of law secures an individual’s property, ensures contracts are enforced, and provides a legal mechanism to address unjust laws and rules, which creates a stable environment that promotes widespread prosperity.

The Rule of Law: What is it and why is it beneficial? | Chapter 4
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The Rule of Law: What is it and why is it beneficial? | Chapter 4

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Rule of Law: the principle that all persons and institutions—including the government—must follow the law regardless of their power or status.

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