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Can you point to a real-world counterexample -- a society with highly developed markets but without government-based rule of law?
by gabrielroth 18y ago
Can you point to a real-world counterexample -- a society with highly developed markets but without government-based rule of law?
- nazgulnarsil 18y agothere has been no opportunity in history for this to happen. It is only with modern cryptographic techniques and electronic banking that a true non-coercive economy is possible. seasteading should provide an opportunity to try it. If the free-market extremists such as myself are right, these communities should quickly outperform traditional governments. We'll see what happens then.
- russell 18y agoChina 10 years ago, maybe even now. Every society has laws, but rule of law requires that they be reliably and equitably imposed. Anytime you regularly have to resort to bribes and shakedowns from government official to get business permits and adjudication of conflicts, rule of law is on shaky ground.
- gabrielroth 18y agoYes, and the further China has moved toward an equitable legal system, the more developed its economy has become. Corruption and crime are checks on economic activity, just as Rosenfield's original assertion would suggest.