Contracts in Cyberspace

phutureboy writes "In his online Journal of Interesting Economics, economist David D. Friedman (son of Nobel laureate Milton Friedman) presents some interesting ideas about the enforcement of contracts in cyberspace. The gist is that he sees a gradual shift away from public enforcement of contracts (i.e. government courts) to private enforcement (e.g. third party arbitration, reputationial enforcement). The rest of his site is interesting as well - he even has an archive of his open-source economics software, which includes a neat trading simulation game called Hansa."

Comments

Re:The Good Dr. Friedman

[Russ Nelson]

You should read his book, _Law's Order_. He goes into great detail about the difference between, and effects of, punishing crime versus preventing crime.
-russ

Fixed link

[henben]

Sorry, correct link.