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Rejoinder to David Friedman on the Economics of Anarchy
Economics and Philosophy
The received wisdom once stated that anarcho-capitalism would collapse into Hobbes's state of nature, with life nasty, short, and brutish. The problem of competing governments is the problem of externality par excellence. But David Friedman, among others, has argued persuasively that privately financed arbitration agencies can overcome the basic externalities problems behind social order. Unfortunately the matter is not so simple, because the state -a coercive monopoly on the use of forcemaydoi:10.1017/s026626710000479x fatcat:pfdhkfqzhvgnhjz3sdjmygpwqq