Our Servile State, Part II

Why capitalism is unstable

A Concise Summary of The Servile State, by Hilaire Belloc (see parts I, and III)

There is a long-running debate between “anarcho-capitalists” and minimal government libertarians that goes like this: if the state were abolished, would a central authority emerge in the power vacuum left behind?

Peak Capitalism

Under the industrial capitalism of the late 1700s to early 1900s, the general stamp of society was insecurity for the masses, and a growing moral strain between the traditions of freedom and dignity and the reality of economic dispossession.

Belloc’s Business Cycle Theory

Peak capitalism began to decline once it became clear that competing owners could not pay workers during business downturns, leading to starvation of the unemployed in some cases.

Seastead solutions.

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