7/29/2004 04:17:58 PM|||Nathan Moore|||

The Right Coast has a take on Francis Fukayama's recent piece in the WSJ.  The basic rules of state formation, practically, not theoretically, are discussed.  Privatization versus the rule of law - which is more vital?

I'll cop out early on this one.  The lack of privatization frustrates the rule of law, and vice versa.  Privatization can only occur in an atmosphere where property rights are recognized and can be expeditiously enforced.  The rule of law is meaningless for society if there is no privatization.  The rule of law would be the state, as there are not assets for private actors to operate through. 

Interesting question, though. More can certainly be written on it. And may be later.

|||109113605884546297|||Privatization v. Rule of Law