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Time to Restore America's Rule of Law

Posted By Anthony B. Kim On August 24, 2012 @ 2:21 pm In Economics | Comments Disabled

In his recent Wall Street Journal op-ed, Professor David Skeel of the University of Pennsylvania Law School pointed out [1]:

No one doubts that the coming election will be the most important referendum on the size and nature of government in a generation. But another issue is nearly as important and has gotten far less attention: our crumbling commitment to the rule of law.… A sad irony of [it] is that rule-of-law values have been one of America’s greatest contributions to world-wide economic development in recent decades.… In the years after the Berlin Wall fell in 1989, American markets served as a model of the importance of privatization and protection of property rights as the nations of Eastern Europe charted a new economic future. Now we increasingly are the ones that need to learn these lessons.… Rule-of-law matters cannot be separated entirely from questions about the size and role of government. The more government grows, the harder it is to preserve rule-of-law virtues like transparency and clear rules of the game.

The troubling trend of weakening the rule of law is well documented in The Heritage Foundation’s Index of Economic Freedom [2]. The U.S.’s indicators for the rule of law [3], which measure property rights and freedom from corruption, have eroded dramatically over the last five years.

[4]

As Americans look to their future, they should seek to advance the rule of law and economic freedom, two key elements necessary for a strong, growing, job-creating economy.


Article printed from The Foundry: Conservative Policy News from The Heritage Foundation: http://blog.heritage.org

URL to article: http://blog.heritage.org/2012/08/24/time-to-restore-americas-rule-of-law/

URLs in this post:

[1] pointed out: http://online.wsj.com/article/SB10000872396390444184704577588822128122752.html?mod=djemEditorialPage_h

[2] Index of Economic Freedom: http://www.heritage.org/index

[3] rule of law: http://www.heritage.org/index/rule-of-law

[4] Image: http://blog.heritage.org/wp-content/uploads/RULE-OF-LAW.jpg

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