Discretion is a bulwark of Western Civilization, at least as far as the British and American system
Question:
Discretion is a bulwark of Western Civilization, at least as far as the British and American system are concerned. Indeed, our legal system is based upon it, where judicial discretion is a widely accepted ideal, and the jury system also offers great latitude, both in adjudication and in sentencing. This common law style differs greatly from the civil law that dominates much of the world, where Napoleanic codes and similar bright-line rules require strict adherence to hard absolutes. While Americans value the flexibility in law, there is significant debate over whether this same kind of flexibility is sensible in monetary policy.
Discuss the two schools of thought on this subject, then weigh in on the controversy.
Why would you prefer rules or discretion in this area? Or is there a middle ground?
What risks do you see from the model you prefer?
Dynamic Business Law
ISBN: 9781260733976
6th Edition
Authors: Nancy Kubasek, M. Neil Browne, Daniel Herron, Lucien Dhooge, Linda Barkacs