by Tate Fegley
Mises.org
Many people recoil from the idea of policing being done by private, for-profit enterprise. They imagine that such companies, in their attempt to maximize profit, would be even more abusive than government police. But what most fail to realize is that private ‘police’ already exist in America and to a large extent: there are an estimated 3 persons employed in private security for every public cop. These include a wide range of roles and skills, from the night watchman at a construction site to sophisticated cyber security experts ensuring that financial transactions are secure.
Private policing isn’t some fantasy, and it isn’t just a luxury enjoyed by the rich: every time you enter a shopping mall, go to a department store, visit an amusement park, enjoy a live professional sporting event, or use PayPal, you are being protected by people trying to maximize profit. In a free market, where transactions are voluntary, customers need to be pleased in order for companies to survive.