In his book "The Price of Inequality," Joseph E. Stiglitz discusses the fundamental role the rule of law should play in society. He emphasizes that the rule of law is designed to safeguard the rights of the vulnerable, ensuring that they are not exploited by those in more powerful positions. This principle is essential for maintaining a just society where everyone receives equitable treatment under the law.

Stiglitz argues that when the rule of law fails, the balance of power shifts, leading to systemic inequality. The protection of the weak is a cornerstone of a healthy democracy, and its erosion can threaten social cohesion and future prosperity. By examining the relationship between law, power, and inequality, Stiglitz highlights the urgent need for reforms that reinforce fair legal practices.