I like von Mises (to pieces) as much, if not more so than the next guy; but the rest of the world is well past the societal tipping point of a low-population growth inaccessible insular community.

Everybody kept the social peace, because the cost of breaking it was too high: nowhere to go to escape societal retribution, everyone "knew" everyone else or could pick you out as a stranger in the local community if you moved around the island and would get your back-story eventually.