<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>The Rule of Law serves, under a broadly accepted notion of justice, the enforcement of property rights and a relative predictability of citizen affairs, i.e. it fosters Public Value. However, it is subject to risks that materialise in weakened institutions, uncertainty and transaction costs. The connection between Public Value and the Rule of Law becomes salient when understanding how the latter degenerates at the expense of the former. This article provides two theoretical frameworks that explain the connection between the two concepts, as well as three manifestations of the Rule of Law’s decay. These comprise the excess of legal-formalism, the excess of discretion in enforcement and the instrumentalisation of the law, i.e. when it embodies injustice. Although they vary depending on the legal system, these aspects build a conceptual body that illustrates how contingent legal outcomes affect society, developing Daly’s (2019) concept of democratic decay in the economics and business literature.</p>
</abstract>

The Rule of Law serves, under a broadly accepted notion of justice, the enforcement of property rights and a relative predictability of citizen affairs, i.e. it fosters Public Value. However, it is subject to risks that materialise in weakened institutions, uncertainty and transaction costs. The connection between Public Value and the Rule of Law becomes salient when understanding how the latter degenerates at the expense of the former. This article provides two theoretical frameworks that explain the connection between the two concepts, as well as three manifestations of the Rule of Law’s decay. These comprise the excess of legal-formalism, the excess of discretion in enforcement and the instrumentalisation of the law, i.e. when it embodies injustice. Although they vary depending on the legal system, these aspects build a conceptual body that illustrates how contingent legal outcomes affect society, developing Daly’s (2019) concept of democratic decay in the economics and business literature.

<italic>Absurda lex, sed lex</italic>? Public value and the decay of the Rule of Law: A conceptual perspective

Berlin International University of Applied Sciences

Economics and Business Review

This work is licensed under the Creative Commons Attribution 4.0 International License.

? Public value and the decay of the Rule of Law: A conceptual perspective

The Rule of Law serves, under a broadly accepted notion of justice, the enforcement of property rights and a relative predictability of citizen affairs, i.e....

Absurda lex, sed lex? Public value and the decay of the Rule of Law: A conceptual perspective

Published Online: Oct 29, 2022

Page range: 7 - 26

Received: Jul 22, 2022

Accepted: Sep 07, 2022

DOI: https://doi.org/10.18559/ebr.2022.3.2

Keywords
Public Value, Rule of Law, legal-formalism, legal institutions, democratic decay, property rights

© 2022 Erick Behar-Villegas, published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Absurda lex, sed lex? Public value and the decay of the Rule of Law: A conceptual perspective

Published Online: Oct 29, 2022

Page range: 7 - 26

Received: Jul 22, 2022

Accepted: Sep 07, 2022

DOI: https://doi.org/10.18559/ebr.2022.3.2

KeywordsPublic Value, Rule of Law, legal-formalism, legal institutions, democratic decay, property rights

© 2022 Erick Behar-Villegas, published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Keywords
Public Value, Rule of Law, legal-formalism, legal institutions, democratic decay, property rights