One difference is that all members will have entered into the agreement consensually.
Another distinction that has to be drawn is that between a state and a governing body. A state claims the right and monopoly of initiatory violence. If that claim isn’t being made by the private arbiter, then any overreach on their part is just ordinary criminality. It’s still a practical concern that these projects need to address.
What I’m looking for is a system that is built with decentralizing incentives and clear simple property rights rules. It should be able to more easily evolve in a freer direction than in a less free one.
One difference is that all members will have entered into the agreement consensually.
Another distinction that has to be drawn is that between a state and a governing body. A state claims the right and monopoly of initiatory violence. If that claim isn’t being made by the private arbiter, then any overreach on their part is just ordinary criminality. It’s still a practical concern that these projects need to address.
What I’m looking for is a system that is built with decentralizing incentives and clear simple property rights rules. It should be able to more easily evolve in a freer direction than in a less free one.