Libertarian Land: Use Contract Enforcement, Not Criminal Law, To Deter Fraud

The criminal approach is plausibly less effective at reducing fraud because its existence lulls private parties into thinking government has addressed the problem.

AP/Nic Coury
Elizabeth Holmes, center, walks into federal court at San Jose, California, November 18, 2022. AP/Nic Coury

Should governments criminalize fraud? At first blush, the question might seem bizarre. Surely even the purest libertarian opposes private deceptions that, in effect, steal money from others? The Libertarian Party platform explicitly endorses government prohibitions of fraud.

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