Just because the courts appoint arbitrators doesn't mean that they wouldn't be properly and voluntary appointed by all parties in the dispute, in the absence of government.
And that's how disputes will be settled in the future, once the justice system is seen as the obsolete piece of stone-aged trash it is.
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Do you think all disputes can be resolved this way? I think the gulf between anarchists and libertarian-esque ideologies rests with whether disputes can be resolved without the weight of force suspended over the negotiations and what could happen when you lift the lid off completely. The reason mandated arbitration/mediation works so well, I think, is that no one wants to deal with litigation because it brings down that heavy hand.
I think all disputes could be solved that way, but most likely won't be. Some things will still be solved with guns, although in a society with individual responsibility for security and an absence of crime schools (prisons), as well as an unhindered and free market, the idea is that no one would become so desperate as to put others into a situation which would require guns to resolve.