David Friedman talks about private law examples in history and how they can be implemented. Recorded at International Students for Liberty Conference 2016 in Washington, DC.
We are used to thinking of law as produced and enforced by governments. In fact, there have been many legal systems that were decentralized and privately enforced, some of which still exist. Many, perhaps most, existing legal systems show evidence of having been built on top of such systems of private law. That raises two interesting questions: What are the requirement for such a system to work, and what might a modern version look like.
Enjoy the very interesting video above!