Law without the State

Robert P. Murphy
Nov. 07, 2011

Without question, the legal system is the one facet of society that supposedly requires state provision.[1] Even such champions of laissez-faire as Milton Friedman and Ludwig von Mises believed a government must exist to protect private property and define the "rules of the game."

However, their arguments focused on the necessity of law itself. They simply assumed that the market is incapable of defining and protecting property rights. They were wrong.

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