Home Economic Where is (non-state capacity) libertarianism evolving? – Marginal REVOLUTION

Where is (non-state capacity) libertarianism evolving? – Marginal REVOLUTION

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That is the topic of my latest Bloomberg column, here is one bit:

I would say that the purer forms of libertarianism are evolving: from a set of policy stances on political questions to a series of projects for building entire new political worlds…

Much of the intellectual effort in libertarian circles is concentrated in two ideas in particular: charter cities and cryptocurrency.

Very recently a “charter city” was inaugurated in Honduras, with its own set of laws and constitutions, designed to set off an economic boom. Entrepreneurs are seeking to create such cities around the globe, typically as enclaves within established political units. The expectation is not that these cities would reflect libertarian doctrine in every way, but rather that they would be an improvement over prevailing governance, just as Hong Kong had much better outcomes than did Mao’s China.

A milder version of the charter cities concept is the YIMBY (“Yes In My Backyard”) movement, which is not founding new cities but seeking to transform existing ones by deregulating zoning and construction and thus building them out to a much greater extent.

Another area attracting energetic young talent is cryptocurrency. Bitcoin gets a lot of the attention, but it is a static system. The Ethereum project, led by Vitalik Buterin, is more ambitious. It is trying to create a new currency, legal system, and set of protocols for new economies on blockchains.

The piece is 1200 words or so, 50% beyond the usual, plenty more at the link.