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Dicey was born on 4 February 1835. His father was Thomas Edward Dicey, senior wrangler in 1811 and proprietor of the Northampton Mercury and Chairman of the Midland Railway. His mother was Annie Marie Stephen, daughter of James Stephen, Master in Chancery. Per his own words, Dicey owed everything to the wisdom and firmness of his mother. [5]
[12] [11] According to Dicey, the rule of law, in turn, relies on judicial independence. [13] In Introduction, Dicey distinguishes a historical understanding of the constitution's development from a legal understanding of constitutional law as it stands at a point in time. He writes that the latter is his subject. [14] However, J. W. F. Allison ...
The ancient concept of rule of law can be distinguished from rule by law, according to political science professor Li Shuguang: "The difference ... is that, under the rule of law, the law is preeminent and can serve as a check against the abuse of power. Under rule by law, the law is a mere tool for a government, that suppresses in a legalistic ...
Okun's law, in economics: when unemployment increases by 1%, the annual GDP decreases by 2%. Orgel's rules, in evolutionary biology, are a set of axioms attributed to the evolutionary biologist Leslie Orgel: First rule: "Whenever a spontaneous process is too slow or too inefficient a protein will evolve to speed it up or make it more efficient."
Law and order requires the prevention of crime as well as the contribution of authorities. As such, it does not matter by what means these are achieved, or what the characteristics of the law are. This concept of the rule of the law can, therefore, be upheld by even the most tyrannical dictatorship.
Law and economics, or economic analysis of law, is the application of microeconomic theory to the analysis of law. The field emerged in the United States during the early 1960s, primarily from the work of scholars from the Chicago school of economics such as Aaron Director , George Stigler , and Ronald Coase .
British constitutional theorist Albert Venn Dicey is often associated with the thin conception of the rule of law. The "thin" conception rule of law advocates the view that the rule of law is fulfilled by adhering to formal procedures and requirements, and that the normative content of law concerns substantive legal issue separate from the rule of law.
Economic law is a set of legal rules for regulating economic activity. [ 1 ] [ 2 ] Economics can be defined as "a social science concerned with the production, distribution, and consumption of goods and services."