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Author Topic: Free Market Law and Security  (Read 6190 times)
helio
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« on: August 10, 2011, 03:58:53 PM »

Bob Murphy is Awesome in this Vid talking about Market Security. 

<a href="http://www.youtube.com/watch?v=V0_Jd_MzGCw" target="_blank">http://www.youtube.com/watch?v=V0_Jd_MzGCw</a>
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randallstevens
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« Reply #1 on: August 19, 2011, 03:12:20 PM »

I had never heard this view in regards to the voluntary hotel type prison. It certainly makes sense and I can understand how this could work for the vast majority of criminals, but what about the completely insane? I know that we're talking about a small fraction of the criminal class, but just to play devil's advocate, what do you do with someone who is totally crazy and not competent to make any sort of decision for himself? Is this where private charities would come into play?
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JustSayNoToStatism
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« Reply #2 on: August 19, 2011, 08:02:15 PM »

I finally decided to watch this video, and it did not disappoint. This is well thought out, and it counters the common objections.

Quote
I know that we're talking about a small fraction of the criminal class, but just to play devil's advocate, what do you do with someone who is totally crazy and not competent to make any sort of decision for himself? Is this where private charities would come into play?
Hmm...if they were totally crazy, I suppose some charities could come about, but I suspect it would take a lot of time. People's valuations of the effectiveness of their donations would matter. At the moment, there are too many charities competing for the funds of generous people. Once the more urgent humanitarian concerns are under control (assuming other ones don't pop up and move ahead on the queue) then maybe the Insane Murderers' Rehabilitation Foundation would end up on the list of charities that receives significant donations. As of now, it obviously sounds insane, because people are way more sympathetic to other causes. I certainly couldn't rule it out in the very distant future though. Wouldn't that be an awesome world? The problems have been resolved so well and people are so wealthy that they can afford to do that!

The charity was a good idea randallstevens, and I like where this brainstorming session is going. Haha let's co-write an article for the LvMI.
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helio
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« Reply #3 on: August 20, 2011, 12:14:55 AM »

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what do you do with someone who is totally crazy and not competent to make any sort of decision for himself?

It depends on what the person did.  My view is that when someone engages in violence, they have in actuality consented to violence.  Therefore, if there is a solid case of evidence showing they did it, and they do not wish, or are not capable of making a decision, then their lives would be in the hands of the victims.
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« Reply #4 on: August 23, 2011, 10:05:57 AM »

One thing that I would've liked to see Robert Murphy expound on a little bit more (and I am aware his time was limited) is the ICBM/public good argument.  He had said that he wrote an article on it, if memory serves me correctly (if anyone wants to post a link that'd be great).

So the example that he gave was how would you deal with ICBMs owned by insurance companies in that they most certainly wouldn't just protect their paying customers?
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helio
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« Reply #5 on: September 10, 2011, 06:48:37 AM »

I'm unaware of that article, but would like to read it as well.

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they most certainly wouldn't just protect their paying customers?

This is the core of the public good argument, that is, some people will get the benefit for free. 
The leap of logic that is usually taken is to assume because some people get some benefit without payment, that no one would therefore make the investment in the first place.  The so-called 'free rider problem' and it is a non-sequitor.  It simply does not follow that providing something where others receive a benefit, without also incurring a cost to the provider, is a cost.

In economics, we should always try to look at what is unseen, and not just the people who get the free-bee nuke shield.  What is unseen is that there is an opportunity cost only on not building the nuke, as without one, there is no deterrent or defense. There is no loss of opportunity to the initial investors if the people living in the vicinity of the umbrella don't pay them because the investors will still get the same level of nuke protection, regardless.  The opportunity cost may be far greater in terms of having the investor's city blasted to smithereens than paying a high individual premium because most of the city isn't chipping in. 

The point is that the free-riders do not impose a cost on the owners of the nukes.  The only cost is if the price of the nuke outweighs the risk of having the city destroyed.

I'm curious to see what Bob Murphy says on the matter.
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« Reply #6 on: September 10, 2011, 11:15:45 AM »

I could see the hotel prison evolving into a mall of sorts, a private city prison. Has anyone heard about the Jewish cities of refuge for people who are either pending trial or accidentally killed someone? I don't think that the nation of Israel does that now, but it is talked about in the old testament.
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