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Private Governance and the three biases of political philosophy

Author

Listed:
  • Jason Brennan

    (Georgetown University)

Abstract

Private Governance shows that philosophers, political and legal theorists, and social scientists mistakenly believe in legal centralism, the view that order in the world depends upon and is made possible by state law. In fact, most governance not only happens to be private, but must be private. This paper extends Edward Stringham’s argument by claiming that philosophers tend to suffer from three biases. Diffidence bias means they are overly pessimistic about people’s willingness and ability to cooperate without state enforcement. Statism bias means the overestimate the degree to which cooperation is secured by the state. Guarantee bias means they overestimate the value and need for legal guarantees.

Suggested Citation

  • Jason Brennan, 2018. "Private Governance and the three biases of political philosophy," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 31(2), pages 235-243, June.
    • Handle: RePEc:kap:revaec:v:31:y:2018:i:2:d:10.1007_s11138-017-0384-1
    DOI: 10.1007/s11138-017-0384-1
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    References listed on IDEAS

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    1. Stringham, Edward Peter, 2015. "Private Governance: Creating Order in Economic and Social Life," OUP Catalogue, Oxford University Press, number 9780199365166, Decembrie.
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    More about this item

    Keywords

    Polycentric law; Anarchism; Elinor Ostrom; Cooperation; Prisoner’s dilemma; Trust game; Assurance;
    All these keywords.

    JEL classification:

    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian
    • P12 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Enterprises
    • P14 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Property Rights
    • P48 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies
    • Y80 - Miscellaneous Categories - - Related Disciplines - - - Related Disciplines

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