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> Markets only exist in the first place because of "government help": without government creating and enforcing property law contract law, and numerous other la
by Turing_Machine 8y ago
> Markets only exist in the first place because of "government help": without government creating and enforcing property law contract law, and numerous other laws, there would be no markets.
We have archaeological evidence that trading networks (and over fairly long distances, at that) existed long before anything we'd recognize as formal contract law was around, and certainly long before anything like international laws and regulations.
Likewise, one of the first things that develops when a government collapses (or, conversely, becomes overly restrictive) is a robust black market.
Contracts can be (and are) made in the absence of government-enforced contract law all the time. The parties to the contract simply develop their own mechanisms for enforcement (which can range from social pressure to outright violence).
Surely you're not trying to argue that drug dealers are likely to sue each other in court when one of them breaks the deal?
- jakelazaroff 8y ago> Contracts can be (and are) made in the absence of government-enforced contract law all the time. The parties to the contract simply develop their own mechanisms for enforcement (which can range from social pressure to outright violence). Agreed, but monopolies are also not uncommon under such conditions. Drug dealers have "turf", for example.