Exploring Institutional Approaches and Privatization

The chapter compares the perspectives of a father and son on market failures, externalities, and decision-making processes in government and market systems. It discusses privatizing government functions like health care and education, highlighting how private alternatives can offer efficiency in areas such as police, courts, and national defense. Anarcho-capitalism is explored, focusing on private firms for rights enforcement and dispute resolution, with emphasis on economic efficiency as a proxy for maximizing utility.

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This week on Upstream, Erik is joined by David Friedman for a deep dive on anarcho-capitalism, utilitarianism, and more. To get Brave: Head to https://brave.com/brave-ads/ and mention “MoZ” when signing up for a 25% discount on your first campaign.

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Timestamps:

(00:00) Intro

(00:46) The Friedman Family's Intellectual Lineage

(03:18) Market Failures and Government Intervention

(06:11) Privatizating Everything

(09:33) The Mechanics of Anarcho-Capitalism

(12:47) Why David Isn't a Utilitarianism

(16:33) Midroll: Brave | Turpentine

(18:19) David's Moral Framework

(23:36) Is Global Coordination Possible?

(30:46) Privatizing Military and National Defense

(32:54) Addressing Poverty in an Anarcho-Capitalist World