2016 F.A. Hayek Book Prize Finalist
Private Governance
Creating Order in Economic and Social Life
Edward Peter Stringham
Reviews and Awards
Winner of the 2015 Best Book Award from the Society for the Development of Austrian Economics and Foundation for Economic Education
"Stringham's thesis is thought provoking. He argues it well and provides a number of case studies that illustrate clearly how private governance succeeded when most people would expect it to fail." Ethics and Culture Blog
"Stringham is to be commended for his bold and wonderfully-argued thesis, and for the research that he has done in supporting his claims. This book is a delight to read, is packed with accessible and fascinating information, is confident enough to tweak the noses of the Left and is a recommended - required - read for anyone interested in the beauty of spontaneous order, far removed from the shadow of the state." The Quarterly Journal of Austrian Economics
"Private Governance is a masterpiece of economic, philosophical, and legal reasoning that will shake progressive ideology to its foundations, and, if read by enough young people, dispatch it to a waiting grave." Andrew Napolitano, Fox News
"Stringham dispels state-worshipping fiction with historical fact to show how good governance has preceded Leviathan, ignores it when necessary, and can surpass it when it fails." Peter Thiel, Entrepreneur
"If you read this book you will have to readjust what you think is possible. A masterful account that mixes history, theory, and a deep understanding of what contracts really mean." Michael Munger, Duke University
"The dominant view in economic and political theory is that markets can only exist in the 'shadow of the state.' This superb volume challenges this contention head on." Mark Pennington, King's College London
"Explains how private governance can work in theory and carefully details a series of real-world case studies to illustrate how it actually works. Stringham writes so well that this book should be appreciated and enjoyed by academics and non-academics alike." Bruce Benson, Florida State University
"The theory and practice of private provision of protection, security, and adjudication has a long and distinguished history. Private Governance is an extremely important contribution to understanding this issue." Leonard Liggio, Institute for Humane Studies
"Adam Smith brought us the 'invisible hand.' Now, Stringham brings us 'private governance.' Am I going too far in comparing Stringham to Smith? Maybe so, but it is because Smith does not deserve to be mentioned in the same sentence as Stringham. Read this book (that's an order!)." Walter Block, Loyola University-New Orleans
"Brimming with surprises and intellectual curiosity. Stringham turns the conventional wisdom on its head, in delightful and convincing fashion." Tom Woods, Historian
"Masterfully weaves economic analysis with little-known history and elegant storytelling to demonstrate the power of individuals to create order without law or government. Essential reading for policy-makers, academics, and anyone else with questions about the power of freedom." Marcus Cole, Stanford University