Presenter Mary Ann Sieghart introduces the panelists of economists. They will discuss the need for a centralized government and if anarchy is possible in terms of economics.
Economist Bastani says anarchism is not possible from a political standpoint. He outlines what the theory of anarchy has contributed to political thought in regards to individual rights.
Economist King says the alternatives to capitalism can appear more viable at first but in the end do not deliver the desired outcomes. He says institutions matter to the economics success of a country.
Economist McCloskey says political systems, such as communism or socialism, operate like a family. She says if the family model can be applied to the entire society, they can work.
Bastani says capitalism is unable to provide for everyone and the number of working poor has increased. King says the inequality within countries has gotten worse than the inequality between nations.
The panelists discuss if the market needs a powerful government to function. McCloskey says a state is not needed and the market can operate without regulation.
McCloskey says society could function with 15 percent of the government there current is. She outlines what functions would be eliminated.
Credits: Capitalism and Anarchy
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Few take anarchism and the abandonment of organized government as a viable political goal. Yet in economics, capitalism is just such a leaderless anarchic system. Might a radically decentralized political system be more credible than we think? Or is centralized government necessary in politics if anything is to be achieved? The Panel Senior Economic Adviser at HSBC Stephen King, author of Bourgeois Dignity Deirdre McCloskey and cofounder of Novaria Media Aaron Bastani take anarchy seriously.
Length: 39 minutes
Copyright date: ©2016
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