ABSTRACT

The insurance company would use detectives to apprehend the aggressor. If the accused aggressor claims he is innocent or that the amount of reparations claimed by the victim is excessive, a situation of dispute exists between them which may require arbitration. The conditions of such arbitration, the forces impelling both parties to accept it as binding, and the market guarantees of its justice will be examined. The unhampered market would, in the area as in any other, set up a situation in which irrationality and injustice were automatically discouraged and penalized without any resort to statutory law and government. Since the arbitration agency's service would be the rendering of just decisions, and since justice is the basis on which they would compete in the market, the arbiters would make every attempt to fix reparations at a fair level, in accordance with market values.