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Regardless of whether or not Jethro Tull is a perfect example, the larger point about rule of law is absolutely correct. Any catchphrase or byword can be co-opt
by ryandamm 10y ago
Regardless of whether or not Jethro Tull is a perfect example, the larger point about rule of law is absolutely correct. Any catchphrase or byword can be co-opted, none more so than 'freedom.' Rule of law is a much better way to think about this, so thank you.
It's also generically true that having a good legal system is a prerequisite for a stable economy and good growth, not just innovation. I recall an article in, I think, the Economist that contrated mango farming in Haiti from the Dominican Republic -- same climate, same island, huge difference in productivity. Because in DR, farmers believed they would benefit from their hard work. In Haiti, unclear land title and corrupt courts meant a productive mango orchard could be confiscated by those in power, so the farmers had no incentive to invest in their own farms' productivity. Subsistence farming becomes the norm, and everyone loses.
Not sure why both examples that spring to mind are agricultural, but there you go.