Private Governance and Rules for a Flat World

Abstract

In Rules for a Flat World, Hadfield argues that although the world is becoming increasingly connected and faster paced due to leaps in technological innovation, the prevailing legal systems —established by governments and run almost exclusively by lawyers —have not kept pace. They are increasingly proving ill-suited for and counterproductive to the evolving economic environment. Although coming from a different perspective, Hadfield’s encouragement of market-based solutions is highly consonant with those of classical liberals who advocate privatizing all government.