What do libertarians think about bankruptcy laws?

Some will say that bankruptcy is just part of the known framework of contract law that enhances the free market for all participants. Since personal liberty is inalienable, we should not allow people to sign contracts that say “if you can't pay, you become my slave and/or society will imprison you. read more

” I can’t say. Bankruptcy laws are an attempt at a solution that both the borrower and the lender probably should work out at the time of creation of the debt obligation. No surprises. read more

The question of bankruptcy is interesting in that it exists as part of underlying contract law. Actually no. Contact law is governed by states. The bankruptcy code is a federal statute that's entirely separate from the law of contracts. I think we have to imagine that the parties agree to the law if the land . No, we don't have to imagine that. read more

So I find that most libertarians like tort law a lot and would like a lot of cases which are currently dealt with as criminal law cases to be decriminalised and considered under tort law, e.g. most manslaughter cases. read more