4 ms·

I've also seen real-world governments ruin their own economies by making short-sighted (or just plain stupid) decisions. And I've seen Ponzi schemes in a lot of

• stcredzero 18y ago
  In those cases, too, the rule of law is not quite working. The letter of the law is often being obeyed (and there is some debate about even that concerning things like the establishment of the Fed) but the system is being gamed. What it comes down to is this: is the general populace comfortable enough to engage in open economic activity? You can see that there is a lot less confidence in the US and the rest of the world, in large part due to various stupid decisions. But this doesn't prove that anarcho-capitalism works. It just shows that corrupt capitalism doesn't work well either.