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praxeologist | 10 years ago
Iceland is an example of polycentric law fairly close to what anarcho-capitalists advocate. You didn't really address that or the other points.
The first big difference between the Lex Mercatoria and present-day law is the source being jurisprudence and not bureaucratic legislation. The second would be cases being torts with an identifiable victim versus today's with victimless "crimes against society".
For why legislation is awful and for a hint at solutions under an eminently human system of law in a free society see these:
https://www.mises.org/sites/default/files/11_2_5_0.pdf
http://www.walterblock.com/wp-content/uploads/publications/b...
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