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The Machinery of Freedom's system doesn't rely on firms' and individuals' strong wish to avoid reputational harm? Because that exact mechanism is mentioned repe
by handrous 5y ago
The Machinery of Freedom's system doesn't rely on firms' and individuals' strong wish to avoid reputational harm? Because that exact mechanism is mentioned repeatedly as the enforcement mechanism of arbitration, absent government. It may not be the only factor cited, but it's a lot of it.
- wyager 5y agoNo, the chief proposed enforcement mechanism for violating arbitration agreements is that if you do, no one is going to stop people from shooting you and taking your stuff. I.e. you become an outlaw.
- handrous 5y agoWell, the book's text is available online. I suppose anyone can go figure out for themselves whether reputation (beyond just the extreme form of "people kill you because you're so unpopular") is a significant part of what it supposes would keep people and businesses in line, absent government.
- wyager 5y agoIt has nothing to do with people killing you because you’re unpopular; it’s to do with the fact that if you seriously violate arbitration agreements it becomes too expensive to buy protection.
- handrous 5y ago> no one is going to stop people from shooting you and taking your stuff. I.e. you become an outlaw. [edit, also:] > The plausible end result of violating the law is either that you have to accept the result of arbitration or you end up getting shot
- krapp 5y agoThat seems like the monopoly on violence with... more actual violence.