The Libertarian Approach to Contracts (eg GPS Speed Regulation)

[Riad S. Wahby]

Jim Choate <ravage at ssz.com> wrote:
> The typical Libertarian approach is to support whatever puts the primary
> service provider (Libertarians almost always use producer-consumer
> examples, why is that?) in the primary profit making position and the
> service consumer in the least protected position. The typical Libertarian
> figures that if you can make a buck of the sucker, then any failure or
> harm in the contract by the provider is the dumb blind luck of the
> consumer.

It is the responsibility of the consumer to make sure that the terms
of the contract are agreeable prior to entering the contract.  That
doesn't leave them in an unprotected position, it leaves them in a
position of power.  If they don't like the contract, they leave.
Easy.

How could it possibly be any other way?  "Oh, wait, I didn't know
about that clause in the contract, so my obligation is null and void."
That would be a great step forward for contract law, no?

--
Riad Wahby
rsw at mit.edu
MIT VI-2/A 2002

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