The Economics of Law, Order, and Action

My book The Economics of Law, Order, and Action: The Logic of Public Goods is now available for purchase. Its primary purpose is to provide a comprehensive challenge to the standard position of the economic and political mainstream, according to which efficient production of so-called public goods, including law and defense, requires the use of territorial monopolies of coercive force.

The Socio-Political Equivalent of a Catch-22

If anyone ever managed to create real socialism – that is, a system completely detached from external free markets, perfectly efficient at destroying internal black markets, and not dependent on financing by other, not-fully-socialist regimes – then such a system would immediately collapse in a spectacular manner, consumed by calculational chaos so exhaustively described by Ludwig von Mises.