157. Law & Order in a Free Market w/ Edward Stringham
The Bitcoin Standard Podcast
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How Does the Court System Work in a Free Market?
In the U.S., it's extremely common to have in your contract an arbitration clause, a alternative dispute resolution clause. It could take a very long time, be very costly, go through government courts. In the case of a credit card dispute or a cell phone dispute, it would just be too costly to go to government court. And so it's much more efficient to have it go through a private tribunal and these things can be done in many cases solved very quickly.
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