Earlier this year I gave a talk in Brazil based on an old book chapter. The central argument is that the producers of law in a system such as that I described in The Machinery of Freedom, unlike the producers of law in a conventional political system, have an incentive to generate economically efficient law—for reasons similar but not identical to the reasons why other producers in private markets have an incentive to produce the products that consumers most value.
Share this post
Anarchy and Efficient Law
Share this post
Earlier this year I gave a talk in Brazil based on an old book chapter. The central argument is that the producers of law in a system such as that I described in The Machinery of Freedom, unlike the producers of law in a conventional political system, have an incentive to generate economically efficient law—for reasons similar but not identical to the reasons why other producers in private markets have an incentive to produce the products that consumers most value.