Duncan on market-based law

Andy Duncan of Samizdata proposes a real-life example of market-based law, providing analogies to the theories of Friedman, Rothbard, and Hoppe, in the realm of professional sports.

So speedy inexpensive legal decisions, competitive judges, competitive systems of law, the lack of a need for much policing, binding second level arbitration, legal stability, and a complete acceptance of all parties as to the ultimate legitimacy of 'The Law'. Ladies and Gentlemen. I give you a fully-functioning anarcho-capitalist legal system, in action. It can work.

The discussion that follows is also interesting.

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