The experience of “bandit capitalism” or “tyrant capitalism” in postcommunist societies shows that markets cannot work properly without a community of trust and mutual respect. Such a community can be achieved only where there is a rule of law, applied by able and independent judges.
About the Author
Charles Fried is Beneficial Professor of Law at Harvard University Law School. Born in Prague, he has served as Solicitor General of the United States (1985-89) and as an Associate Justice of the Supreme Judicial Court of Massachusetts (1995-99). His publications include Contract as Promise (1981) and Order and Law: Arguing the Reagan Revolution (1991).
The real danger in East-Central Europe comes not from populist ideology or attempts to subvert democracy, but rather from the manipulation of democratic procedures by those in power.
