Humane Studies Review Volume 7, Number 1
Winter 1991/92 Polycentric Law by Tom W. Bell
http://mason.gmu.edu/~ihs/w91issues.html>From the introduction:
"As any cynic will confirm, money and law
have a lot in common. But their ties run even deeper than most
suspect. Money and law had similar origins: both arose spontaneously
out of the undirected actions of individuals seeking common standards
for mutual coordination. Money and law developed in parallel fashion,
too: medieval Europeans enjoyed competition in currencies and legal
systems until monarchies took over both fields. And state monopolies
in money and law now present common hazards: they are imposed by fiat,
inefficiently operated, and (as the cynics point out) jointly
corrupting. However, a new generation of scholars has come to question
the need for state monopolies in money and law. In the place of
central banks they advocate a free banking system. In the place of
state legal systems they advocate overlapping private jurisdictions in
free and open competition -- a polycentric legal system.
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