Law, in this context, refers to any set of rules that a particular authority or government institutes and enforces in order to ensure a safe and functioning society. These laws are generally enforced by the state and are backed up by the threat of sanctions like fines or imprisonment if they are violated. The term may also be used to describe any strong rule that someone might have at home or at work that they are expected to obey, such as “you should eat five fruits and vegetables a day” (which would be a good idea for your health but not necessarily a legal requirement).
Many different ideas about the nature of law exist. A utilitarian definition, popularized by John Austin, states that law is a collection of commands, backed by the threat of sanction, from a sovereign to those who are his political subjects. Some, such as Jean-Jacques Rousseau, argue that there are natural laws, based on innate human behavior and a universal morality, that govern the world.
Law influences politics, economics, history and culture in various ways. Contract law regulates the exchange of goods and services, and property law defines people’s rights and duties toward tangible and intangible personal possessions – including cars, books and houses. Banking and financial law sets minimum capital requirements and best practices for investment, and public utilities like water, electricity and gas are regulated by public law. In addition, modern policing and military forces raise questions of law’s role that writers like Locke or Montesquieu could not have foreseen.