A Predictable and Stable Legal Order
A government with moral and legal authority promulgates written rules and universally, impartially and uniformly enforces the rules, which provides a predictable and stable legal order on which to base economic and personal decisions. The law prevails, not the proclamation or arbitrary decision of a ruler, government bureaucrat, the enforcer (e.g., policeman) or judge.
Frederic Bastiat (France) and Friedrich Hayek (Austria) along with others championed the “Rule of Law," a predictable and stable legal order dedicated to individual freedom which maximizes protecting people and their property from the force of others – especially government. The essential elements of the Rule of Law are:
The moral and legal authority of the rule maker
Rules apply universally and equally to all persons.
Appliers of the rules enforce the rules consistently in accordance to the intent of the rule maker.
An external authority, other than the applier, adjudicates infractions of the rules.
The law prevails, not the proclamation or arbitrary decision of a ruler, government bureaucrat, an enforcer (e.g., policeman) or a judge.