Property as Philosophical Steel | The Hillebrand Series | Episode 10 (WiM069)
The "What is Money?" Show
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What Are the Limits of Interaction?
Most law emerged not from the state, but out of non state institutions. Law merchant in mercantile courts or admiralty law in tribunals set up by shippers themselves. In a state, there is no higher order that could punish people who make mistakes. That's why we need a free market, especially in law,. You can make a bad judgment, and you will not get bailed out.
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