The only mechanism to force repayment of loans without government is violence or monopoly. Nonsense. First, while this is phrased to position government as an

The only mechanism to force repayment of loans without government is violence or monopoly. Nonsense. First, while this is phrased to position government as an alternative to violence, forcing repayment of loans with government involves both violence and a monopoly—a monopoly on "legitimate" violence being the main factor which all governments have in common. Second, government cannot be relied upon to force repayment of loans (e.g. they allow debts to be discharged in bankruptcy). Third, social pressure can effectively force people to repay their loans without resorting to violence. As things stand today, the main factor that keeps people from skipping out on loans is not the threat that the government might get involved, or a more general fear of violence, but rather the impact it would have on their credit score—in other words, the risk of acquiring a reputation as someone who does not repay their debts, and consequently losing access to future credit.