The Importance of Unanimous Consent in Bilateral Contracts

The social contract that Rousseau was talking about was mythical. It never actually happened. Buchanan and Tullick started to explore that because they thought unanimous consent might justify coercion. So we can get unanimous consent in all sorts of bilateral voluntary exchanges. The question is, can we scale up from those voluntary exchanges? And here's the important thing, Jet. If I could not sign that contract and have it be binding, that would be a really important limitation on my liberty...

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