Now in pursuing these principles, one arrives at this rigorous conclusion:That the production of security should, in the interests of the consumers of this intangible commodity, remain subject to the law of free competition.Whence it follows:That no government should have the right to prevent another government from going into competition with it, or to require consumers of security to come exclusively to it for this commodity.
Under a regime of liberty, the natural organization of the security industry would not be different from that of other industries. In small districts a single entrepreneur could suffice. This entrepreneur might leave his business to his son, or sell it to another entrepreneur. In larger districts, one company by itself would bring together enough resources adequately to carry on this important and difficult business. If it were well managed, this company could easily last, and security would last with it. In the security industry, just as in most of the other branches of production, the latter mode of organization will probably replace the former, in the end.
.. this authority would be accepted and respected in the name of utility, and would not be an authority imposed by terror.