Rule of law
The rule of law is seen as the foundation of a civilised society. It is crucial in fostering an environment in which business can flourish.
In a recent speech on litigation funding Lord Neuberger, president of the UK’s Supreme Court, emphasised the importance of the rule of law: “Investors need to know that the political elite will not expropriate their profits or their businesses at will.
“Individuals and business have to be able to enforce contracts, to protect their intellectual property and to obtain effective redress not merely against other individuals and business but also against the state.”
As Adam Smith put it in his 1776 Inquiry into the Nature and Causes of the Wealth of Nations, economic activity and innovation will thrive ...
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