By Richard Epstein
偶然のリバタリアン
As the center of gravity in legal circles shifted from two party torts and simple contracts to collective action problems of zoning, bankruptcy, labor law and the like, the libertarian modes of property, tort and contract seemed to fit less well. In these transactions, a collective solution was highly vulnerable to holdout and free rider problems which the consequentialist theories did a better job of explaining than the strong libertarian theories that tended to overlook transaction costs and uncertainty in their formulation of legal rules.
