The Market for Security | Robert P. Murphy

Archived from the live Mises.tv broadcast, this lecture by Bob Murphy was presented at the 2011 Mises University in Auburn, Alabama.

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[bobsacamano1]

Robert Murphy is one of my favorites!

[Leofus1986]

Bob Murphy: THA BAUS!!!!

[dubified89]

Brilliant

[andycc08]

@Hashishin13 No the state gives them money from taxes for housing the prisoners. It varies per state, in Texas I think its like $300 a day per prisoner

[Hashishin13]

@stalrunner I think of it more like exile, because he might be able to get a helicopter or something to fly him somewhere, but he couldn't come on anyone's land who didn't want him, which would probably be almost everyone.

[stalrunner]

@Hashishin13 Sure, but imprisoning him on his land is one way we could serve justice.

[Hashishin13]

@stalrunner It depends, if the person who was murdered held some weird religious forgiveness type belief and stated it in a will or some other trustworthy type way then maybe the murderer would be allowed back on his property and everyone without the forgiveness belief would ostracize him. If the murderer killed anyone else though, that would be grounds for a just invasion of his property with the intent of bringing him to justice. Borders determine ownership, not justice.

[PenguinJr1994]

I dont understand how would the private prisons make money, do the criminals pay premiums to be in this prison?

[utubehayter]

@stalrunner

Which sort of legal arrangement in society are you living with? Depends on that.

[stalrunner]

If the axe murderer makes it back to his own property after committing the murders, would he be plucked off his property or would we just contain him to his property?

[Devious2323]

with all the fucked up things that the police do I think private security would be better. Police get away with murder.

[PanzerDivisionBOM]

-

asks the same questions as you have. And on the day when the first wave of security companies come offering insurance contracts, people will be asking them even more intently. Every economist, analyst, commentator and their grandmother will be practicing their long-neglected talents for beautiful, rational skepticism in full, and the companies which structure and limit themselves so as to best allay their fears will be the ones which end up attracting customers and setting industry standards.