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Extinguishing the Department of Defence Rob Moody reviews Bob Murphy's book Chaos Theory, which explains how a world of private law and private defense would work (I can't find it on the web any more). He writes: "Now imagine a world where insurance companies would indemnify policyholders for losses caused by foreign aggressors. Seeking to maximize their profits, they would also provide the optimal amount of defense to protect the lives and property that they insured and reduce the risk of attack. They would purchase military hardware and equipment at a fraction of what governments pay, greatly reducing the cost of protection. Multinational defense agencies would loan out high-tech weapons to their franchises in areas under imminent threat of attack, further reducing the cost of protection. Defense agencies would advertise their capabilities instead of trying to keep them secret. And the risk of being attacked would be greatly reduced since foreigners wouldn?t feel threatened (defense agencies wouldn?t have offensive weapons because using them wouldn?t be profitable)."
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