Care to elaborate why? I'm not arguing because I think you're going to suddenly acquiesce, but because I'm trying to refine my own viewpoint.
I obviously can't quickly read the linked books to see what they're actually saying, but they clearly have their own set of philosophies. This is fine, but these philosophies are not beyond reproach.
And as to Arrow's theorem and the problems of procedural outcomes - that's precisely my point! You're the one coming from the viewpoint where we're all bound to an ever-growing system that possesses the mandate to regulate whatever is economically prudent. If a system is incapable of adequately taking into account the conflicting desires of its inhabitants, it should be decentralized so that everybody doesn't have to agree!
system that possesses the mandate to regulate whatever is economically prudent
I don't agree that it's necessarily ever expanding, but insofar as it involves regulating whatever is economically prudent then sure, because I'm a utilitarian. Of course, I only have limited foresight, so I support the democratic approach as a necessary evil although I'd rather a pure technocracy. As long as it produces a reasonable approximation of Pareto optimality, I'm OK with that. It's imperfect, of course, but at least it's a methodology.
[...] it should be decentralized so that everybody doesn't have to agree!
But it already is; living in the US gives you a choice between over 50 different legal systems, and that's only at the state level. Some of them provide exceedingly poor outcomes for their citizens IMHO, but there you go.
Allow me to suggest this book, which is a great introduction to law and economics without being too technical in either subject: http://www.amazon.com/Legal-Analyst-Toolkit-Thinking-about/d... or if it is not to your taste, this one is good too: http://www.amazon.com/Laws-Order-What-Economics-Matters/dp/0... At the very least, check out Arrow's theorem: http://en.wikipedia.org/wiki/Arrows_impossibility_theorem which explains why ideal procedural outcomes are not possible.