The Tang Prize in Rule of Law could bring attention to the importance of fair legal systems and help countries create more stable economies, a leading US legal academic said in Taipei on Wednesday.
The relationship between a functioning judicial system and a stable and growing economy is a close one, and if the Tang Prize raises awareness of that it can help economic growth, said Lance Liebman, the William S. Beinecke professor of law at Columbia Law School in New York City.
To encourage people to invest and start new businesses, it is crucial to have a trustworthy legal system where disputes can be resolved in a fair manner, Liebman said in an interview with the Central News Agency.
“I think the role of law in economies and in economic life, political life and social life is huge,” said Liebman, who is also director of the American Law Institute.
“When communism ended in parts of Europe, and as countries like [South] Korea, Taiwan, China, Indonesia advance toward forms of democracy, building a legal structure that is trustworthy, fair, avoids corruption and can lead to fair decisions is very important,” he said.
Much can also be done to improve the US’ legal system, where corruption still exists, he said.
Whether countries are moving toward greater levels of democracy or simply trying to strengthen their economy, “improving their legal systems is always on the list of things that needs to be done,” he said.
Moreover, with business transactions now increasing across national borders, Leibman said there is a great need for arbitration and legal systems that can deal with cross-border disputes.
“All of this needs to be studied and can be done better than we do it now,” he said.
While problems in the legal systems will not be resolved by giving a prize, Leibman said, the Tang Prize in Rule of Law has the potential to raise awareness and encourage more research on the subject.
The people who select the Tang Prize winners are going to help define what needs to be done to strengthen the rule of law, the professor said.
Meanwhile, Christian Starck, a prominent German legal academic, said that the rule of law is a problem not only in underdeveloped or developing countries, but also in Europe.
Ukraine, for example, is not stable and still has a lot of corruption, said Starck, an emeritus professor of public law at the University of Gottingen.
The biennial Tang Prize, which will hand out awards for sustainable development, biopharmaceutical science, Sinology and rule of law, will address issues that are important to the current era, he said.
The law prize will recognize individuals or institutions that have made significant contributions to the advancement of legal theory or practice, and the realization of rule of law in contemporary societies, the Tang Prize Foundation said.
Starck and Leibman were invited to Taipei by the foundation, which was established in 2012 by entrepreneur Samuel Yin (尹衍樑).
The first Tang Prizes are to be announced on June 18.
PRAISE: Japanese visitor Takashi Kubota said the Taiwanese temple architecture images showcased in the AI Art Gallery were the most impressive displays he saw Taiwan does not have an official pavilion at the World Expo in Osaka, Japan, because of its diplomatic predicament, but the government-backed Tech World pavilion is drawing interest with its unique recreations of works by Taiwanese artists. The pavilion features an artificial intelligence (AI)-based art gallery showcasing works of famous Taiwanese artists from the Japanese colonial period using innovative technologies. Among its main simulated displays are Eastern gouache paintings by Chen Chin (陳進), Lin Yu-shan (林玉山) and Kuo Hsueh-hu (郭雪湖), who were the three young Taiwanese painters selected for the East Asian Painting exhibition in 1927. Gouache is a water-based
A magnitude 4.1 earthquake struck eastern Taiwan's Hualien County at 2:23pm today, according to the Central Weather Administration (CWA). The epicenter of the temblor was 5.4 kilometers northeast of Hualien County Hall, at a depth of 34.9 km, according to the CWA. The earthquake's intensity, which gauges the actual effect of a temblor, was the highest in Hualien County, where it measured 2 on Taiwan's 7-tier intensity scale. The quake also measured an intensity of 1 in Yilan county, Taichung, Nantou County, Changhua County and Yunlin County, the CWA said. There were no immediate reports of damage or injuries.
‘WORSE THAN COMMUNISTS’: President William Lai has cracked down on his political enemies and has attempted to exterminate all opposition forces, the chairman said The legislature would motion for a presidential recall after May 20, Chinese Nationalist Party (KMT) Chairman Eric Chu (朱立倫) said yesterday at a protest themed “against green communists and dictatorship” in Taipei. Taiwan is supposed to be a peaceful homeland where people are united, but President William Lai (賴清德) has been polarizing and tearing apart society since his inauguration, Chu said. Lai must show his commitment to his job, otherwise a referendum could be initiated to recall him, he said. Democracy means the rule of the people, not the rule of the Democratic Progressive Party (DPP), but Lai has failed to fulfill his
OFF-TARGET: More than 30,000 participants were expected to take part in the Games next month, but only 6,550 foreign and 19,400 Taiwanese athletes have registered Taipei city councilors yesterday blasted the organizers of next month’s World Masters Games over sudden timetable and venue changes, which they said have caused thousands of participants to back out of the international sporting event, among other organizational issues. They also cited visa delays and political interference by China as reasons many foreign athletes are requesting refunds for the event, to be held from May 17 to 30. Jointly organized by the Taipei and New Taipei City governments, the games have been rocked by numerous controversies since preparations began in 2020. Taipei City Councilor Lin Yen-feng (林延鳳) said yesterday that new measures by
RSS