If a government were to implement strong libertarianism (roughly defined as “the only role of government is to enforce contracts and property rights), both median income and GDP per capita will tend to decrease, not increase, over the twenty years that follow.
I thought there were a lot of libertarians on LW! I’m stunned by how unsuccessful this one was!
Incidentally, do you mean GDP per capita would decrease relative to more interventionist economies or in absolute terms? Since there is an overall increasing trend, (in both more and less libertarian) economies that would be very surprising to me.
A good example, in spite of the fact that Somalia has effectively no government services (not even private property protections or enforcement of contracts), its economy has generally grown year by year.
Incidentally, do you mean GDP per capita would decrease relative to more interventionist economies or in absolute terms? Since there is an overall increasing trend, in both more and less libertarian economies that would be very surprising to me.
I wondered about this as well. It seems an extremely strong and unlikely claim if it is intended to mean an absolute decrease in GDP per capita.
If a government were to implement strong libertarianism (roughly defined as “the only role of government is to enforce contracts and property rights), both median income and GDP per capita will tend to decrease, not increase, over the twenty years that follow.
I thought there were a lot of libertarians on LW! I’m stunned by how unsuccessful this one was!
Incidentally, do you mean GDP per capita would decrease relative to more interventionist economies or in absolute terms? Since there is an overall increasing trend, (in both more and less libertarian) economies that would be very surprising to me.
A good example, in spite of the fact that Somalia has effectively no government services (not even private property protections or enforcement of contracts), its economy has generally grown year by year.
I wondered about this as well. It seems an extremely strong and unlikely claim if it is intended to mean an absolute decrease in GDP per capita.