by Joe Jarvis , DailyBell:
If you get government wrong, you get everything wrong.
New York City has a lot of wealth. There is infrastructure, skyscrapers, smart people, transportation, and so on.
But what would happen if North Korea took over the city tomorrow? Would all that wealth simply remain in place? Would everyone just go on with their lives?
Of course not. People would flee in droves, the city would crumble.
Tom Bell says that 44% of the wealth in the world is the rule of law. Clearly, there are plenty of gripes to be had with the governments of New York City, New York State, and the United States. But even governments which mix statutory and common law can provide a decent arena where businesses and individuals can flourish.
Of course, we should always want to improve our circumstances. Since 44% of the wealth of the world comes down to how good the government is, this is the most important area to improve.
We could continue voting, volunteering on political campaigns, and calling our representatives. But speaking from personal experience, this doesn’t seem to make much difference.
But we have another choice right under our noses. It is already in practice in homeowners associations. Some people choose to voluntarily submit to a neighborhood wide private governing structure.
Maybe you can’t bear the thought of living next to a neighbor with chipping paint on his house. You, therefore, agree that you will keep your home’s paint fresh, knowing that your neighbor signed the same agreement. The consequences for failing to hold up your side of the bargain are clearly stated in the contract you sign.
This same privatized rule of law is expanding beyond neighborhoods.