The Rule of Slogans
"The rule of law" is the latest thing in economics. Trouble is, no one is quite sure what it means, or whether it yields positive results.
The source: “Order in the Jungle,” in The Economist, March 13, 2008.
Dani Rodrik, the star development economist at Harvard’s John F. Kennedy School of Government, recently made a startling admission: He has been throwing around the latest big idea in economics—the rule of law—without a clear fix on what it means. The rule of law is the reigning motherhood-and-apple-pie issue of developmental econom...