Rule of law is crucial from "summary" of Capitalism and Freedom by Milton Friedman
The concept of the rule of law is crucial to a free society. It provides a framework within which individuals can pursue their own interests and live their lives as they see fit. Without the rule of law, there would be chaos and anarchy, with individuals free to do as they please without fear of consequences. The rule of law ensures that there are clear and transparent rules that apply to everyone, regardless of their status or wealth. This helps to prevent arbitrary and capricious actions by those in power and ensures that individuals are treated fairly and equally under the law. In a society based on the rule of law, ind...
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