I'm struggling with a theoretical flaw in Rothbard's theory of punishment, particularly his idea of double restitution. He states:

'The criminal should not only have to return the $15,000 but also be forced to pay the victim another $15,000, so that he loses the rights to the amount he took.'

I'm fine with the 'double' aspect, but why must it be based on the market value? Isn't value subjective in the Austrian perspective? What if my property is subjectively worth more than $15,000 to me? Wouldn't it make more sense to let independent, voluntarily chosen courts determine the real value?

If you're wondering how courts would assess this, that's their responsibility—just like how restaurants figure out how to make a better pizza than their competition. And if you're skeptical about whether such a tool could exist, remember that 500 years ago, we had no tool to record the past, but today we have cameras!

#asknostr #grownostr #rothbard #austrianeconomics #law #libertarianism #anarchocapitalism