For any number of baffling reasons they act arbitrarily and if an investment is within their zone of chaos it is unlikely to prosper.

FORBES: Don't Invest In Political Footballs

The rule of law should guarantee that officials cannot act arbitrarily, as Argentina's government did recently when it seized the private 401(k)-style pensions of its citizens.

FORBES: Capitalism: A True Love Story

The state courts have agreed to let the state and local officials do their jobs, but retain the jurisdiction to reverse their decisions if they act arbitrarily, that is without good reason under the law.

FORBES: Top Of The News: Candidates Return To Court

Judges, including Supreme Court justices, often act as if they were philosopher-kings, arbitrarily handing down decisions on issues that should be left to the hurly-burly of the political process.

FORBES: Fact and Comment