In their paper “Credit Default Swaps from the Viewpoint of Libertarian Property Rights and Contract Theory,” Thorsten Polleit and Jonathan Mariano attempt to show that credit default swaps (CDS) are legitimate and enforceable contracts under Murray Rothbard’s conception of property rights and contract theories. They also try to demonstrate that “CDS are an efficient and effective instrument for putting an end to ever higher debt accumulation under fiat money regimes,” and that “CDS (if not suppressed by government) put a limit to, or even erode, the viability of fiat money regimes.” These propositions are supposed to explain why governments are interested in restricting or banning them.