Ed Stringham on “private governance”

Ed Stringham writes the lead essay for the new Cato Unbound: How private governance made the modern world possible.

By “private governance” Stringham, an anarcho capitalist (or “anarcho” capitalist, or anarcho “capitalist”, or “anarcho” “capitalist”, or “anarcho capitalist” according to taste) means decentralised rule-enforcement in clubs, and he explains how it, not the state, maintains order in some very complex and sprawling activities like stock markets and online shopping.

An earlier paper of his on the extra-legal evolution of securities trading in seventeen century Amsterdam is available here.

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