IDEAS home Printed from https://ideas.repec.org/a/cai/repdal/redp_306_0115.html
   My bibliography  Save this article

Are Anarcho-Capitalists Insane? Medieval Icelandic Conflict Institutions in Comparative Perspective

Author

Listed:
  • Vincent Geloso
  • Peter T. Leeson

Abstract

Anarcho-capitalists argue that private governance institutions could profitably replace government and often appeal to medieval Iceland, which was governed privately. Conventional wisdom regards this as insane: medieval Iceland was poor, and every rich society has government. While that is true, every society in medieval Europe was poor by modern standards, and whether living standards would have been higher in medieval Iceland under government is an empirical question that has not been evaluated empirically. We provide such an evaluation by exploiting the fact that, in contrast to Iceland, other territories in medieval Europe were governed partly by government. We use historical data on human height, wages, and population growth to compare living standards across medieval European territories. Living standards in state-governed medieval Europe do not seem to have been higher than they were in Iceland. Anarcho-capitalists, it seems, are not insane. Classification JEL: P51, N30, N40, N33, N43, 057

Suggested Citation

  • Vincent Geloso & Peter T. Leeson, 2020. "Are Anarcho-Capitalists Insane? Medieval Icelandic Conflict Institutions in Comparative Perspective," Revue d'économie politique, Dalloz, vol. 130(6), pages 957-974.
    • Handle: RePEc:cai:repdal:redp_306_0115
    as

    Download full text from publisher

    File URL: http://www.cairn.info/load_pdf.php?ID_ARTICLE=REDP_306_0115
    Download Restriction: free
    File URL: http://www.cairn.info/revue-d-economie-politique-2020-6-page-957.htm
    Download Restriction: free
    ---><---

    References listed on IDEAS

    as
    1. Gregory Clark, 2005. "The Condition of the Working Class in England, 1209-2004," Journal of Political Economy, University of Chicago Press, vol. 113(6), pages 1307-1340, December.
    2. Peter T. Leeson, 2007. "Trading with Bandits," Journal of Law and Economics, University of Chicago Press, vol. 50(2), pages 303-321.
    3. Allen, Robert C. & Murphy, Tommy E. & Schneider, Eric B., 2012. "The Colonial Origins of the Divergence in the Americas: A Labor Market Approach," The Journal of Economic History, Cambridge University Press, vol. 72(4), pages 863-894, December.
    4. Koepke, Nikola & Baten, Joerg, 2008. "Agricultural specialization and height in ancient and medieval Europe," Explorations in Economic History, Elsevier, vol. 45(2), pages 127-146, April.
    5. Oliver Volckart, 2002. "No Utopia: Government Without Territorial Monopoly in Medieval Central Europe," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 158(2), pages 325-343, June.
    6. Jane Humphries & Jacob Weisdorf, 2019. "Unreal Wages? Real Income and Economic Growth in England, 1260–1850," The Economic Journal, Royal Economic Society, vol. 129(623), pages 2867-2887.
    7. Davide Cantoni & Noam Yuchtman, 2014. "Medieval Universities, Legal Institutions, and the Commercial Revolution," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 129(2), pages 823-887.
    8. Harry Kitsikopoulos, 2000. "Standards of living and capital formation in pre-plague England: a peasant budget model," Economic History Review, Economic History Society, vol. 53(2), pages 237-261, May.
    9. Gregory Clark, 2005. "The Condition of the Working Class in England, 1209-2004," Journal of Political Economy, University of Chicago Press, vol. 113(6), pages 1307-1340, December.
    10. Leeson,Peter T., 2014. "Anarchy Unbound," Cambridge Books, Cambridge University Press, number 9781107629707.
    11. Ilia Murtazashvili & Jennifer Murtazashvili, 2015. "Anarchy, self-governance, and legal titling," Public Choice, Springer, vol. 162(3), pages 287-305, March.
    12. Leeson Peter T. & Williamson Claudia R., 2009. "Anarchy and Development: An Application of the Theory of Second Best," The Law and Development Review, De Gruyter, vol. 2(1), pages 77-96, July.
    13. Fogel, Robert W, 1994. "Economic Growth, Population Theory, and Physiology: The Bearing of Long-Term Processes on the Making of Economic Policy," American Economic Review, American Economic Association, vol. 84(3), pages 369-395, June.
    14. Humphries, Jane & Weisdorf, Jacob, 2015. "The Wages of Women in England, 1260–1850," The Journal of Economic History, Cambridge University Press, vol. 75(2), pages 405-447, June.
    15. Peter Leeson, 2013. "Gypsy law," Public Choice, Springer, vol. 155(3), pages 273-292, June.
    16. Allen,Robert C., 2009. "The British Industrial Revolution in Global Perspective," Cambridge Books, Cambridge University Press, number 9780521868273.
    17. Allen, Robert C., 2001. "The Great Divergence in European Wages and Prices from the Middle Ages to the First World War," Explorations in Economic History, Elsevier, vol. 38(4), pages 411-447, October.
    18. Carlos Álvarez-Nogal & Leandro Prados De La Escosura, 2013. "The rise and fall of Spain (1270–1850)," Economic History Review, Economic History Society, vol. 66(1), pages 1-37, February.
    19. Umbeck, John, 1977. "The California gold rush: A study of emerging property rights," Explorations in Economic History, Elsevier, vol. 14(3), pages 197-226, July.
    20. Benson, Bruce L. & Siddiqui, Zafar R., 2014. "Pashtunwali—Law for the lawless, defense for the stateless," International Review of Law and Economics, Elsevier, vol. 37(C), pages 108-120.
    21. Krantz, Olle, 2017. "Swedish GDP 1300-1560: A Tentative Estimate," Lund Papers in Economic History 152, Lund University, Department of Economic History.
    22. Powell, Benjamin & Ford, Ryan & Nowrasteh, Alex, 2008. "Somalia after state collapse: Chaos or improvement?," Journal of Economic Behavior & Organization, Elsevier, vol. 67(3-4), pages 657-670, September.
    23. Frank D. Lewis & Marvin McInnis, 1981. "Agricultural Output and Efficiency in Lower Canada, 1851," Working Paper 451, Economics Department, Queen's University.
    24. Pamuk, Şevket & Shatzmiller, Maya, 2014. "Plagues, Wages, and Economic Change in the Islamic Middle East, 700–1500," The Journal of Economic History, Cambridge University Press, vol. 74(1), pages 196-229, March.
    25. Peter T. Leeson, 2009. "The Laws of Lawlessness," The Journal of Legal Studies, University of Chicago Press, vol. 38(2), pages 471-503, June.
    26. Benjamin Powell & Edward Stringham, 2009. "Public choice and the economic analysis of anarchy: a survey," Public Choice, Springer, vol. 140(3), pages 503-538, September.
    27. repec:oup:econjl:v:129:y:2019:i:10:p:2867-2887. is not listed on IDEAS
    28. Peter Leeson, 2007. "Efficient anarchy," Public Choice, Springer, vol. 130(1), pages 41-53, January.
    29. repec:cge:wacage:2015 is not listed on IDEAS
    30. Leeson, Peter T., 2007. "Better off stateless: Somalia before and after government collapse," Journal of Comparative Economics, Elsevier, vol. 35(4), pages 689-710, December.
    31. Birgir Solvason, 1993. "Institutional evolution in the Icelandic Commonwealth," Constitutional Political Economy, Springer, vol. 4(1), pages 97-125, December.
    32. Lopez,Robert S., 1976. "The Commercial Revolution of the Middle Ages, 950–1350," Cambridge Books, Cambridge University Press, number 9780521290463, September.
    33. Richard H. Steckel, 2008. "Biological Measures of the Standard of Living," Journal of Economic Perspectives, American Economic Association, vol. 22(1), pages 129-152, Winter.
    34. Richard H. Steckel, 2013. "Biological Measures of Economic History," Annual Review of Economics, Annual Reviews, vol. 5(1), pages 401-423, May.
    35. Gregory Clark, 2007. "Introduction to A Farewell to Alms: A Brief Economic History of the World," Introductory Chapters, in: A Farewell to Alms: A Brief Economic History of the World, Princeton University Press.
    36. Ennio E. Piano, 2017. "Free riders: the economics and organization of outlaw motorcycle gangs," Public Choice, Springer, vol. 171(3), pages 283-301, June.
    37. Ridolfi, Leonardo, 2019. "Six Centuries of Real Wages in France from Louis IX to Napoleon III: 1250–1860," The Journal of Economic History, Cambridge University Press, vol. 79(3), pages 589-627, September.
    38. Peter T. Leeson, 2007. "An-arrgh-chy: The Law and Economics of Pirate Organization," Journal of Political Economy, University of Chicago Press, vol. 115(6), pages 1049-1094, December.
    39. Malanima, Paolo, 2011. "The long decline of a leading economy: GDP in central and northern Italy, 1300–1913," European Review of Economic History, Cambridge University Press, vol. 15(2), pages 169-219, August.
    40. Richard H. Steckel, 1995. "Stature and the Standard of Living," Journal of Economic Literature, American Economic Association, vol. 33(4), pages 1903-1940, December.
    41. Dyer,Christopher, 1989. "Standards of Living in the Later Middle Ages," Cambridge Books, Cambridge University Press, number 9780521272155, September.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Zdybel, Karol B., 2023. "Spontaneous Norms in Law and Economics: A Sketch Typology," ILE Working Paper Series 66, University of Hamburg, Institute of Law and Economics.
    2. Rosolino A. Candela & Vincent J. Geloso, 2021. "Trade or raid: Acadian settlers and native Americans before 1755," Public Choice, Springer, vol. 188(3), pages 549-575, September.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Rosolino A. Candela & Vincent J. Geloso, 2021. "Trade or raid: Acadian settlers and native Americans before 1755," Public Choice, Springer, vol. 188(3), pages 549-575, September.
    2. Andrew Young, 2015. "From Caesar to Tacitus: changes in early Germanic governance circa 50 BC-50 AD," Public Choice, Springer, vol. 164(3), pages 357-378, September.
    3. Harris,Colin & Cai,Meina & Murtazashvili,Ilia & Murtazashvili,Jennifer Brick, 2020. "The Origins and Consequences of Property Rights," Cambridge Books, Cambridge University Press, number 9781108969055, September.
    4. Edwards, Griffin & Robinson, Joshua J., 2019. "You gotta fight for your right? Publicly assigned but privately enforced property rights," International Review of Law and Economics, Elsevier, vol. 59(C), pages 31-39.
    5. Peter Leeson, 2014. "Pirates, prisoners, and preliterates: anarchic context and the private enforcement of law," European Journal of Law and Economics, Springer, vol. 37(3), pages 365-379, June.
    6. Jane Humphries & Jacob Weisdorf, 2019. "Unreal Wages? Real Income and Economic Growth in England, 1260–1850," The Economic Journal, Royal Economic Society, vol. 129(623), pages 2867-2887.
    7. Stephen Broadberry, 2024. "British Economic Growth and Development," Springer Books, in: Claude Diebolt & Michael Haupert (ed.), Handbook of Cliometrics, edition 3, pages 951-986, Springer.
    8. William Luther, 2015. "The monetary mechanism of stateless Somalia," Public Choice, Springer, vol. 165(1), pages 45-58, October.
    9. Claridge, Jordan & Delabastita, Vincent & Gibbs, Spike, 2024. "(In-kind) wages and labour relations in the Middle Ages: it’s not (all) about the money," LSE Research Online Documents on Economics 125597, London School of Economics and Political Science, LSE Library.
    10. Ennio E. Piano, 2019. "State capacity and public choice: a critical survey," Public Choice, Springer, vol. 178(1), pages 289-309, January.
    11. Escalante, Edwar E. & March, Raymond J., 2020. "Fighting on Christmas: brawling as self-governance in rural Peru," Journal of Institutional Economics, Cambridge University Press, vol. 16(3), pages 355-368, June.
    12. Jefferson DP Bertolai & Luiz GDS Scorzafave, 2021. "Property rights’ emergence in illicit drug markets," Rationality and Society, , vol. 33(1), pages 52-105, February.
    13. Leeson Peter T. & Williamson Claudia R., 2009. "Anarchy and Development: An Application of the Theory of Second Best," The Law and Development Review, De Gruyter, vol. 2(1), pages 77-96, July.
    14. Claridge, Jordan & Delabastita, Vincent & Gibbs, Spike, 2023. "Wages and labour relations in the Middle Ages: it's not (all) about the money," Economic History Working Papers 120307, London School of Economics and Political Science, Department of Economic History.
    15. van Bavel, Bas, 2016. "The Invisible Hand?: How Market Economies have Emerged and Declined Since AD 500," OUP Catalogue, Oxford University Press, number 9780199608133.
    16. Vincent Geloso & Louis Rouanet, 2023. "Ethnogenesis and statelessness," European Journal of Law and Economics, Springer, vol. 55(3), pages 377-407, June.
    17. Zanotti, Gabriel J. & Cachanosky, Nicolás, 2015. "Implications Of Machlup’S Interpretation Of Mises’S Epistemology," Journal of the History of Economic Thought, Cambridge University Press, vol. 37(1), pages 111-138, March.
    18. Benjamin Powell & Edward Stringham, 2009. "Public choice and the economic analysis of anarchy: a survey," Public Choice, Springer, vol. 140(3), pages 503-538, September.
    19. Stringham, Edward Peter & Zywicki, Todd J., 2011. "Hayekian anarchism," Journal of Economic Behavior & Organization, Elsevier, vol. 78(3), pages 290-301, May.
    20. Vincent J. Geloso, 2019. "Distinct within North America: living standards in French Canada, 1688–1775," Cliometrica, Springer;Cliometric Society (Association Francaise de Cliométrie), vol. 13(2), pages 277-321, May.

    More about this item

    Keywords

    Medieval Iceland; Conflict Institutions; Anarchy; living standard; Anarcho-Capitalism;
    All these keywords.

    JEL classification:

    • P51 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems
    • N30 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - General, International, or Comparative
    • N40 - Economic History - - Government, War, Law, International Relations, and Regulation - - - General, International, or Comparative
    • N33 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - Europe: Pre-1913
    • N43 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Europe: Pre-1913

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cai:repdal:redp_306_0115. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Jean-Baptiste de Vathaire (email available below). General contact details of provider: https://www.cairn.info/revue-d-economie-politique.htm .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.