Francis Fukuyama Quote
Between rule of law and growth In the academic literature, the rule of law is sometimes considered a component of governance and sometimes considered a separate dimension of development (as I am doing here). As noted in chapter 17, the key aspects of rule of law that are linked to growth are property rights and contract enforcement. There is a large literature demonstrating that this correlation exists. Most economists take this relationship for granted, though it is not clear that universal and equal property rights are necessary for this to happen. In many societies, stable property rights exist only for certain elites, and this is sufficient to produce growth for at least certain periods of time.24 Furthermore, societies like contemporary China with good enough property rights that yet lack traditional rule of law can nonetheless achieve very high levels of growth.
Between rule of law and growth In the academic literature, the rule of law is sometimes considered a component of governance and sometimes considered a separate dimension of development (as I am doing here). As noted in chapter 17, the key aspects of rule of law that are linked to growth are property rights and contract enforcement. There is a large literature demonstrating that this correlation exists. Most economists take this relationship for granted, though it is not clear that universal and equal property rights are necessary for this to happen. In many societies, stable property rights exist only for certain elites, and this is sufficient to produce growth for at least certain periods of time.24 Furthermore, societies like contemporary China with good enough property rights that yet lack traditional rule of law can nonetheless achieve very high levels of growth.
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About Francis Fukuyama
Fukuyama has been a senior fellow at the Freeman Spogli Institute for International Studies since July 2010 and the Mosbacher Director of the Center on Democracy, Development and the Rule of Law at Stanford University. In August 2019, he was named director of the Ford Dorsey Master's in International Policy at Stanford.
Before that, he served as a professor and director of the International Development program at the School of Advanced International Studies of Johns Hopkins University. He had also been the Omer L. and Nancy Hirst Professor of Public Policy at the School of Public Policy at George Mason University.
He is a council member of the International Forum for Democratic Studies founded by the National Endowment for Democracy and was a member of the Political Science Department of the RAND Corporation. He is also one of the 25 leading figures on the Information and Democracy Commission launched by Reporters Without Borders. In 2024, he received the Riggs Award for Lifetime Achievement in International and Comparative Public Administration.