ABSTRACT
This chapter analyses the ideal of the rule of law in the spirit of Hayek's quoted statement of it and to show why some of the conclusions which he drew from it cannot be thus supported. The rule of law is a political ideal which a legal system may lack or may possess to a greater or lesser degree. The ideal of the rule of law in this sense is often expressed by the phrase "government by law and not by men". Many of the principles which can be derived from the basic idea of the rule of law depend for their validity or importance on the particular circumstances of different societies. Conformity to the rule of law is a virtue but only one of the many virtues a legal system should possess. This makes it all the more important to be clear on the values which the rule of law does serve.
