All right, guys, we're back in The What Is Money Show?

I am sitting down again today with Mr. Jimmy Song.

And we're going to be further exploring the book by Hoppe called Democracy, the God that Failed.

And we left off last time really just laying out that the lack of a property right, I guess

you might say in the tax base, creates all of these distortions in modern democracy that we didn't have under ancient

monarchy.

And so I guess in general, the incentives are much different, let's say, between monarchical

rule and democratic rule.

And so today, I think we'll start this conversation, just working our way through chapter

one of the book, looking at how democracy actually destroys private law.

And this is kind of interesting to me that, you know, there's this common law discovery process

versus this, I think he calls it public law, which is more of like

a legislative or positive law process. So the difference being something that has more

of a lindy effect, something that's been patterns of action that have been observed over time

that legislators, I i suppose or judges are actually saying this is the common law this is we've

discovered this law by observing human action over time versus the positive law approach

and please correct me where i'm wrong here, of just saying this is the rule.

You know, someone's opinion basically becomes a rule. Is that roughly correct?

Yeah, yeah. I would characterize it as sort of like decentralized versus centralized law.

And Stefan Kinsella, who is a lawyer and writes about this stuff, has written about this particular

thing where decentralized law has this property where it's kind of difficult to change.

You need a lot of different decisions in order to overturn something you know, something like common law. You know,

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