Try to envision a stronger economic system.

Rob Roy

Rob Roy

Well-Known Member
heckler73 said:
You keep skirting the question; what is preventing me from negotiating a price with the cashier?
Either there are no cashiers, and everyone has a little "shop" (creating information inefficiencies and reducing the power of wholesale leverage) which they manage/operate on their own or in collectives,
or you have some external entity presiding over and enforcing contractual law.

You cannot avoid the influence of government in markets. Government is required for markets to exist securely. You will find if you take your ideas far enough and explore the prerequisite conditions involved, they will lead to that same conclusion.
Coase's Theorem sums up that point very succinctly, IMO. Even when private transactions can most efficiently resolve an externality issue, they still require no (or low) transaction cost, along with the clear assignment and enforcement of property rights. There will always be an external party of some type to ensure those conditions are met.

You seem to be now implying that contracts are going to be enforced by Coca-Cola and Google militias. Excuse me Mr. Mussolini, your black-shirted chauffeur has arrived. Yes, he is carrying his negotiator's manganello.


MalWart's "new" price guarantee program... :lol:
Click to expand...


You might enjoy reading The Market for Liberty.

Also, an external entity is an entity of one. That is what you already have when a coercive monopolistic entity such as the present government structure. External entities (plural) controlling markets are far better options for both the seller and the buyer.

Word for the day = Panarchy.


You ask good questions by the way. Thank you.
 
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