James A. Donald wrote:
The problem with such systems is that they are vulnerable to the same disease that struck down Venice. Rich merchants aquire state power, soon are tempted by the easy and safe returns from confiscation and taxation, rather than the difficulty and risk of commerce, soon become aristocrats, equally contemptuous of the poor, of real businessmen, and of earning an honest living.
Wouldn't that be fixed if the state lost its monopoly on power? Distribute power and the abusers can't have it all. While it may be easy to hookwink the masses with propaganda (without internet/etc), once force monopoly power withers it will be difficult to convince Joe Blow to agree to something obviously not in his best interests. Or something like that... Jim