Is the common law efficient? Neoclassical economists debate whether our inherited systems of judge-made law maximize wealth whereas Austrian economists typically adopt much different standards. The article reviews neoclassical and Austrian arguments about efficiency in the common law. After...

Anarchy and the Law assembles for the first time in one volume the most important classic and contemporary studies exploring and debating non-state legal and political systems, especially involving the tradition of natural law and private contracts. Should markets and contracts provide law, and...

Most people do not even consider the idea that society can be organized without a state. Anarchism is simply too idealistic or too different from the current world. But does that prove that a stateless society is unworkable or that it should not be pursued? Or does that prove that most social...

This 263-page book is fascinating not only for its vivid account of the history of the American West but also for its economic analysis of the spontaneous emergence of property rights. In Hollywood movies, the center stage belongs to gunslingers who profit through violence. In The Not So Wild,...