Why does Gibbard believe that, in a community governed by hard libertarian principles and which has no agreement allowing unequal property rights, people “will lead miserable lives”?

Why does Gibbard believe that, in a community governed by hard libertarian principles and which has no agreement allowing unequal property rights, people “will lead miserable lives”?
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Why does Gibbard believe that, in a community governed by hard libertarian principles and which has no agreement allowing unequal property rights, people “will lead miserable lives”? What is Gibbard presupposing or assuming about human behavior?