by Jayram Daya, R. Srinivasan and Naresh Jotwani

In a few previous posts, we have discussed harmony of mind, body and spirit (here), harmony with nature (here) and — somewhat indirectly — harmony in a society (here). On the last point, harmony in a society, clearly the legal system also plays a big role. The ideal, of course, would be that the legal system adds to societal harmony. But can this ideal ever be attained, given human nature and the working of a modern society?

The legal system is a practical, administrative necessity in a modern society. Without a proper legal system, a modern economy cannot function. Harmony figures nowhere in the stated goals of an economist or a business titan; and only a very simple-minded person would assert that the legal system adds to societal harmony.

Thus we have a seemingly unavoidable tradeoff here between two goals — economic performance and societal harmony — both of which are desirable for a society. Three views are presented here to get you thinking!