Wednesday, May 8, 2013

The rule of law............................

.....and the sanctity of contracts are the unsung and underappreciated heroes of the success story that is the free enterprise economy.  From the Leaders essay in the latest Economist comes this nugget:

     A fundamental test of Mr. Xi's vision will be his attitude to the rule of law.  The good side of the dream needs it:  the economy, the happiness of his people and China's real strength depend on arbitrary power being curtailed.  But corruption and official excess will be curbed only when the constitution becomes more powerful than the party.

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