How is that NOT free market? If we're defing a free market as one without government intervention then that scenario surely qualifies.
You inquired about the ancap position on this so I gave it. As for how it works there are already free market mitigations for this kind of thing. I'm no financial expert but insurance, auditors and ratings agencies come to mind. Crowd sourced info akin to yelp could help. Some level of transparency could be achieved with public legers or some other tech if there was enough market demand for it.
Fraud is already illegal yet it still exists. Preventative and voluntary measures are preferable to putting people in cages and all the centralized bureaucracy that entails IMO.
/ sumjo
npub17l9…fs0v
2023-07-15 18:50:48
in reply to nevent1q…0cas
Author Public Key
npub17l9tzenh7re0qzzuum8x35qkruz08dwxhfn0jfldqf6dra2k8fdqwrfs0vPublished at
2023-07-15 18:50:48Event JSON
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"content": "How is that NOT free market? If we're defing a free market as one without government intervention then that scenario surely qualifies.\n\nYou inquired about the ancap position on this so I gave it. As for how it works there are already free market mitigations for this kind of thing. I'm no financial expert but insurance, auditors and ratings agencies come to mind. Crowd sourced info akin to yelp could help. Some level of transparency could be achieved with public legers or some other tech if there was enough market demand for it.\n\nFraud is already illegal yet it still exists. Preventative and voluntary measures are preferable to putting people in cages and all the centralized bureaucracy that entails IMO.",
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