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Home | Mises Library | Tate Fegley: Crime and Punishment in a Libertarian Society

Tate Fegley: Crime and Punishment in a Libertarian Society

  • Tate Fegley on Mises Weekends
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Tags Free MarketsLegal SystemThe Police State

07/09/2015Tate FegleyJeff Deist

Tate Fegley and Jeff Deist discuss what crime and punishment might look like in a libertarian society, and how to convince skeptical libertarians that private police can do a better job of dealing with violence, theft, and fraud.

Private, competing defense agencies would operate with completely different incentives than state police: unlike government cops, private cops get fired when crime goes up. Private police have a direct financial interest in avoiding escalation of conflicts, avoiding legal liability for death or injuries, and avoiding damage to their agency's reputation. And under a Hoppean insurance model, both insurance companies and property owners have a direct incentive to prevent, rather than merely respond, to crime.

Finally, they discuss how direct restitution, rather than lengthy taxpayer-funded incarceration, would be a more economically efficient and more humane approach to helping crime victims.

Note: The views expressed on Mises.org are not necessarily those of the Mises Institute.
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