Firm Structure in an ACS

What sort of firm structure would exist in an anarcho-capitalist society? This article presents two conjectures. The first conjecture is a straightforward extrapolation of the principle of decentralization. This principle holds that decisions are made more efficiently by maximally decentralized deciders. The reasoning is simple: The outcome is better tailored to the preference of the … Read more Firm Structure in an ACS

Unpacking the Vandivier-Coase Theorem

In this article I want to further explain the Vandivier-Coase Theorem. The theorem is as follows: “When transaction costs are sufficiently small relative to total surplus, an efficient and invariant outcome will prevail, and as transaction costs approach zero the result will become even more efficient.” There are 3 specific pieces of this definition that … Read more Unpacking the Vandivier-Coase Theorem

The Specific Mechanism of Anarcho-Capitalist Conflict Resolution

We often discuss anarcho-capitalist society using generalities and aggregated speech. This is often not a convincing or clear way to communicate. This article lays out the specific mechanism used to resolve conflict in an anarcho-capitalist society as concisely as possible and within the context of a specific dispute example. When asked how law would be … Read more The Specific Mechanism of Anarcho-Capitalist Conflict Resolution

Price Discrimination is Efficient

This article will argue that price discrimination is efficient for society, not just producers. Price discrimination is the practice of firms charging different prices for different consumers. In theory this allows producers to obtain the full amount of social surplus. The following graph compares a monopoly which can price discriminate to a monopoly which cannot … Read more Price Discrimination is Efficient