Michael D. Stewart - The Importance of Law

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2. The Rule of Law Whether or not law has a role to play in encouraging us to do the right thing, no one doubts the continuing importance of law in performing the first three functions set out above. As a result, there is a widespread acceptance that the health and wealth of nations is crucially dependent on how far the rule of law is maintained and observed in those nations. See for example, this World Bank website, or this United Nations website, or this website maintained by the American Bar Association, or this essay on the importance of observance of property rights and the rule of law to a country’s development. As a result, a lot of attention is paid to indexes that attempt to chart how far countries around the world respect such things as the rule of law and private property rights. For examples of such indexes, see World Justice Project and International Property Rights.

3. The Functions of Law In the community, the law is very essential. The law is advised for any civilization looking for a way to live in peace and be free of difficulties. It is frequently designed by society, and it is up to the members of society to determine whether or not to follow the laws. There are, however, consequences if you do not follow it. It serves a variety of services that are critical to society's well-being. The following are some of the functions of the law by Michael D. Stewart:

4. Defending us from evil: The first and most basic function of law is to defend us from evil – that is, those who would seek to harm us for no good reason. This function of law underlies 20th century developments in International Law such as the Nuremberg Trials and the creation of the International Criminal Court.

5. Promoting the common good: Law is not just concerned with bringing evil people to account for their actions. A community made up of people who bear no ill-will to anyone else and are simply concerned to pursue their own self-interest needs law because there are situations where if everyone pursues their own self-interest, everyone will be worse off than they would have been if they acted differently. So a community of self-interested actors needs law: To solve ‘Prisoner’s dilemma’ situations; To distribute into private hands property that would otherwise be exploited by everyone, thereby avoiding a ‘tragedy of the commons’ situation arising; To prevent people acting on their natural desire to extract ‘an eye for an eye’ in revenge for actual or perceived wrongs that they have suffered at other people’s hands.

6. Resolving disputes over limited resources: As every family knows, in any community there will always be disputes over who should have what of a limited number of resources. Law is needed to resolve these disputes, as exemplified by the famous story of the Judgment of Solomon.

7. Encouraging people to do the right thing: It was thought even from classical times that law performed a fourth function – that of encouraging and helping people to do the right thing. For example, Aristotle (384 BC – 322 BC) argued that people needed the discipline of law to habituate them into doing the right thing, from which standpoint they could then appreciate why doing the right thing was the right thing to do.

8. Thanks Want more information about the law, contact Michael D. Stewart, a well-experienced lawyer having great knowledge about laws.