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Law as a Public Good: The Economics of Anarchy

  • Tyler Cowen (a1)
  • DOI: http://dx.doi.org/10.1017/S0266267100003060
  • Published online: 01 December 2008
Abstract

Various writers in the Western liberal and libertarian tradition have challenged the argument that enforcement of law and protection of property rights are public goods that must be provided by governments. Many of these writers argue explicitly for the provision of law enforcement services through private market relations.

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Randy E. Barnett 1986. “Pursuing Justice in a Free Society: Part Two – Crime Prevention and the Legal Order.” Criminal Justice Ethics (Winter/Spring):3053.

Gary S. Becker , and George J. Stigler . 1974. “Law Enforcement, Malfeasance, and Compensation of Enforcers.” Journal of Legal Studies 3:118.

Douglas Bernheim , and Michael D. Whinston . 1985. “Common Marketing Agencies as a Device for Facilitating Collusion.” Rand Journal of Economics 16:269–81.

Tyler Cowen . 1990. “Economic Effects of a Conflict-Prone World Order.” Public Choice 64:121–34.

Eugene F. Fama 1980. “Agency Problems and the Theory of the Firm.” Journal of Political Economy 88:288307.

Eugene F. Fama , and Michael Jensen . 1983a. “Separation of Ownership and Control.” Journal of Law and Economics 26:301–25.

Eugene F. Fama , and Michael Jensen . 1983b. “Agency Problems and Residual Claims.” Journal of Law and Economics 26:327–49.

David Friedman . 1979. “Private Creation and Enforcement of Law: A Historical Case.” Journal of Legal Studies 8:399415.

David Friedman . 1984. “Efficient Institutions for the Private Enforcement of Law.” Journal of Legal Studies 13:379–97.

Jeffrey Rogers Hummel . 1990. “National Goods Versus Public Goods: Defense, Disarmament, and Free Riders.” The Review of Austrian Economics 4:88122.

Benjamin Klein , and Keith Leffler . 1981. “The Role of Market Forces in Assuring Contractual Performance.” Journal of Political Economy 89:615–41.

William M. Landes , and Richard A. Posner . 1979. “Adjudication as a Private Good.” Journal of Legal Studies 8:235–84.

Eric Rasmusen . 1988. “Mutual Banks and Stock Banks.” Journal of Law and Economics 31:395422.

G. B. Richardson 1972. “The Organisation of Industry.” Economic Journal 82:883–96.

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Economics & Philosophy
  • ISSN: 0266-2671
  • EISSN: 1474-0028
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