A restitution-based system, which requires those guilty to pay recompense to those they wrong, may be more just than our retribution or crime-based systems.
Bruce Benson is the chair of the economics department at Florida State University and is also a senior fellow at the Independent Institute.
Prohibitive and restrictive legislation towards drug use is both ineffective and does more harm to individuals than good.
The Law Merchant was the common law of merchants in the 11th and 12th century, a good example of laws not imposed by the state.
Anarcho-capitalism is one proposed type of anarchism, where market actors provide all goods and services to society, including security and common public goods.
The “law and economics” approach, used by Coase, Posner, and others, combines the methods and principles of both law and economics scholarship.
With many private contract enforcement options in existence, libertarians now question whether government is needed to guarantee contracts are upheld.