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15 - Protection of Rights versus Protection of Interests

from Part IV - Institutional Ecology of Entrepreneurship

Published online by Cambridge University Press:  02 May 2024

Weiying Zhang
Translated by
Matthew Dale
Weiying Zhang
Affiliation:
Peking University, Beijing
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Summary

This chapter discusses the relationship between the rule of law and innovation, holding that the rule of law protects rights, not interests. Protecting interests is incompatible with market competition and hinders innovation and entrepreneurship. By comparing Great Britain and France during the first and second industrial revolutions, this chapter shows that the protection of rights is related to the rise and fall of a country. Innovation grows out of an ecosystem of free competition. Artificial prohibitions on innovation stifle it.

Keywords

the rule of lawprotection of rightscompetitioninnovation
Type
Chapter
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Re-Understanding Entrepreneurship
What It Is and Why It Matters
 , pp. 287 - 298
Publisher: Cambridge University Press
Print publication year: 2024

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