John Coates, the John F. Cogan, Jr. Professor of Law and Economics at Harvard Law School, authored an op-ed in the Financial Times, describing how the Trump administration’s threats to the rule of law, including executive orders limiting law firms and attempts to intimidate an independent judiciary, may ultimately hurt business. He writes:
Law enables democracy and protects political freedom. But it is also critical to investment and finance. The benefits of a strong and independent judiciary and legal profession are clear. They include protection of property rights, enforcement of contracts and more vigorous market competition. Without reliable law and an ability for private businesses to defend their rights, investment shrivels. While details of reliable legal systems vary, sine qua nons include prior notice about what the law is, independent judges and autonomous lawyers who can advise and advocate for the public.
