This discussion represents my interpretation and comments regarding Capitalism and the objective rule of law versus Statism and the arbitrary rule of man. The discussion of the objective rule of law comes first, followed by the discussion of the arbitrary rule of man.
Regarding the Objective Rule of Law and Capitalism.
From Wikipedia: the rule of law, in its most basic form, is the principle that no one is above the law. Thomas Paine stated in his pamphlet Common Sense (1776): “For as in absolute governments the king is law, so in free countries the law ought to be king; and there ought to be no other.”
Under Capitalism, the Objective Rule of Law represents the judicial and legal process of, establishment of, application of, and enforcement of proper, rational, objective rules and laws – applied through a properly formed court system – that rationally and objectively recognize, preserve, defend, and protect individual and economic freedom, individual rights, property rights, and derivative freedoms, as well as all unregulated free-market commerce and business activity, including such responsibilities as enforcing contractual agreements, etc.
In a free society (Capitalism), the Court System is established and oriented towards proper, objective, and rational application of justice, and towards the enforcement and application of proper, objective, rational rules and laws – where no individual or business is above the objective rules and laws that are established to recognized and protect the freedom and rights of all individuals and businesses. Again, in a free society, the proper responsibilities of the courts are established and oriented towards the PROPER, RATIONAL, and OBJECTIVE recognition, preservation, defense, and protection of individual and economic freedom, individual rights, including property rights, and derivative freedoms (such as the freedom of speech, the freedom of religion and the freedom from religion, the freedom of the individual to keep and bear arms, etc.).
Also, in regards to the functions of a proper justice system (courts) under Capitalism, there would be the application, recognition, preservation, and protection of the proper, objective hierarchy between fundamental individual rights, including property rights, and the derivative freedoms.
Regarding Statism and the Arbitrary Rule of Man. Mob and/or Gang Rule. Non-objective, irrational, arbitrary law.
Statism represents the establishment and enforcement of irrational, subjective (non-objective), and arbitrary rules and laws (if they exist at all) that are oriented towards the violation and infringement upon – in any manner and for any reason whatsoever – individual and economic freedom, individual rights, property rights, and derivative freedoms, and any and all commerce and business, as the statist rules and laws are established and oriented towards the preservation of, including the continued control and tyranny of, the statist government (or ruling group, as in some Theocracies). Basically, laws and rules established in a statist system are oriented towards thuggery and gang rule.
Under any type of Religious Statism, courts are generally established and oriented towards mob and/or gang rule – from monarchies and dictatorships to tribal communes and religious groups – with irrational, subjective (non-objective), arbitrary rules and laws to preserved such power and control. Under Statism, courts are established and oriented towards maintaining and preserving state and/or religious control. In Theocratic (religious) Statism, courts are usually oriented around religious law (such as Sharia law under Islamic religious rule).