OBJECTION to liberty: “But, people are bad. People will lie, steal, assault.”
Yes to consideration of lying, stealing and assaulting. But not only in the free market. Any market.
Choice: EITHER ,those who have needs and can manipulate decide to trade with a provision for dispute arbitration (voluntarily agreed to by trading parties), OR those who have needs and can manipulate be divided into EITHER, those who have a monopoly on the content of the terms of the trade AND a monopoly on dispute arbitration AND those who must submit without choice. It doesn’t matter the system. It involves humans. The potential for lying, cheating and stealing is universal and pervades all possible systems of human activity.
To my mind the all important question that any hard-thinking man must come to grips with is “Why are we better off with one of the potential manipulators having a monopoly that is not subject to competitive forces?” Once it is seen that there is NO advantage to anyone except he who holds such power… the seer is left with a strong argument in favor of anarcho-capitalism (the sexier name for the privatization of everything (including dispute arbitration). How much better would our courts be if they had to show themselves efficient and were reviewed for the quality of their judgments? What if they had to earn their keep by trading (buying and selling) like everyone else. What would happen to the quality of courts if I could turn to one that provided better service? Competition.
I get how far-off in practice such a state of things is. But that it is better is also more clear to me than ever. Arbitration, defense forces (internal and external) are most likely to be handled by large insurance agencies in an anarcho-capitalist state. It is the future that confronts the individual with risks to his body and property. He insures. The insurance agency then has an interest in preventing pay-outs. So, it employs defense forces and arbitration is so central to the settling of claims it is likely that the court would fall under such large companies as well.
Sound fantastic and scary? You and I are living in it, EXCEPT we are living under a monopoly of ONE company that has no competitive pressure to trade well. So IT defrauds, IT aggresses, IT steals, IT shows favoritism and bias, IT lacks incentive to innovate, IT lacks incentive to efficiency. All of these failures can be traced back to the lack of competition.