Mencius Moldbug, Sighted but Uncited
By Arnold Kling
Edward Stringham writes,
In an alternative conception of a non-government monopoly system, which is composed of vertically integrated proprietary communities that provide law, each region may include only one law enforcer but one that is private and motivated by profits. In some sense one could think of it as replacing public governments with profit motivated shareholder “governments.”
This is Mencius Moldbug, standing on one foot. If Moldbug is peeved at Paul Romer, I cannot imagine what he will have to say about Stringham.
Whatever institution that is currently holding Moldbug is evidently giving him a temporary pass to make a brief speaking engagement at the Seasteading conference.
[UPDATE: A reader points me to Pete Leeson’s criticism that “A monopoly proprietor maximizes profits by optimally extorting his tenants in violation of voluntary contracts.”
Perhaps the term monopoly is not what we want to use here. More like monopolistic competition. If I stay at a Hilton, it has some monopoly power until I leave. But the fact that I can leave takes a lot of that power away. If I have decent exit rights (I’m being deliberately vague about what I mean by “decent”), then proprietary government works fine. If I don’t have decent exit rights, then I have….what I have now. /UPDATE]