Tippie Economist Imagines What a Libertarian World Would Look Like - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
December 23, 2011 Newswires
Share
Share
Post
Email

Tippie Economist Imagines What a Libertarian World Would Look Like

Targeted News Service

IOWA CITY, Iowa, Dec. 20 -- The University of Iowa'sCollege of Business issued the following news release:

Ron Paul's continued prominence as a Republican presidential candidate has brought ongoing public attention to his low-tax, small government libertarian views.

His mantra is well-known. Government is too big and too intrusive and needs to be shrunk. Taxes are too high and need to be cut. The market can make better decisions than sclerotic bureaucrats or corruptible politicians. A libertarian philosophy, he says, would make Americans freer and cause an economic boom.

But what exactly would a libertarian world look like? David Barker, an economist at the University of Iowa'sTippie College of Business and former economist for the Federal Reserve, says the question is not often discussed among his fellow libertarians.

"The goals of libertarianism have always been unclear, and so we always wonder, how far can we go," says Barker. "Some people say 'we have to have some government, but...' But what? How much government is too much? We don't talk as much about that."

Unlike libertarianism's left wing cousin--Marxism/communism-- the philosophy has never had a guidebook that presents an end goal. Karl Marx's The Communist Manifesto diagnosed not only the economic problems he saw in 19th century Europe, but also explained how they could be fixed and outlined a way to establish a dictatorship of the proletariat. Although his work was vague about the details and justified murder as part of the economic redistribution process, it inspired Vladimir Lenin, Mao Tse-Tung, and other revolutionaries to create what were promised to be workers' paradises in the 20th century.

But Barker said libertarianism has no equivalent to Marx or his Manifesto and so the road to a libertarian paradise and what shape that paradise takes has always been left to conjecture. Curious about how far the no-government argument could go, Barker started writing down some thoughts that eventually coalesced into a book,Welcome to Free America. The book's conceit is that it's a handbook for immigrants to Free America, a nickname given to the geographic area that used to be the United States, before the country collapsed in the mid-21st century.

Barker's book imagines a near term, dystopic future for the United States not too far different from something out of a Mad Max/Cormac McCarthy/Hunger Games scenario (pick your dystopian cultural allusion). After decades of political and economic paralysis, an ill-thought out speech by President Sarah Palin pushes the country over a cliff. Markets collapse, businesses go bankrupt, institutions fail and, eventually, all levels of government completely fall apart.

Emerging from that rubble is a libertarian world free of any kind of government, with functions once provided by government now the domain of private companies or nonprofit organizations. In the absence of police or other government agencies that protected individuals, people who sign contracts with protection firms that function much as insurance companies do today. Free America has no military. Its defense is maintained by a nonprofit organization that operates a fleet of nuclear missiles to deter other countries from invading.

In Free America, gays are free to marry, whites are free to keep blacks out of their neighborhoods (and vice versa) and different currencies are in use. Streets are safe, and with no government to issue business-slowing regulations, innovation abounds and the economy booms.

Also, "Free America has the best recreational drugs in the world," he writes, drugs that are safe, effective and produce a "bewildering array of effects."

But Barker doesn't see his book as a libertarian version of The Communist Manifesto, nor himself as a libertarian Marx. He doesn't endorse armed insurrection or murder, for instance, and he also knows his imagined world has its negatives as well as positives. Marx actually believed his philosophy would lead to a perfectly equal worker's paradise, but Barker says his world is far from perfect. Privacy is expensive, workers are bound to employers through the terms of their contracts and everything -- including streets, sidewalks, and even parks -- is privately owned. It could even lead to a de facto form of slavery.

"I'm not advocating this as a goal, just exploring a vision," he says. "There are things about a loss of government that would make a better world, but it would create a lot of problems, too."

Barker said his book might prompt advocates of libertarianism to think more about the direction of their philosophy.

"Making the transition to a libertarian world will be costly and we have to ask, is it worth the cost of the transition? Are the benefits worth that cost?" he says. "Sometimes, shrinking government may not be a good thing."

Barker's book is available at amazon.com or through Barker's website at www.barkerecon.com.

TNS JF78JF-111224-3728019 EditorFurigay

Copyright:  (c) 2011 Targeted News Service
Wordcount:  790

Advisor News

  • Why women must be more engaged in investing
  • SEC moves to simplify electronic delivery of investor communications
  • Nearly half of nonretirees doubt they will fully retire
  • How much could failure to fund Social Security cost average Americans?
  • How can more Americans achieve financial independence?
More Advisor News

Annuity News

  • Corebridge Financial enhances The Power Series of Index Annuities
  • LIMRA predicts strong life and annuity sales for the rest of 2026
  • Jackson CEO Laura Prieskorn to retire at the end of 2026
  • Has your annuity been reinsured in the Cayman Islands? Here’s why it matters
  • DOL slams pension risk transfer lawsuit as ‘opportunistic’ litigation
More Annuity News

Health/Employee Benefits News

  • AI belongs on your organizational chart, and that’s a good thing
  • New dashboard tracks Kansas Affordable Care Act enrollment by legislative district, county
  • ICYMI – CANDIDATE COOPER NOW TRYING TO BLAME HIS HEALTH INSURANCE PALS FOR GOVERNOR COOPER'S 57% INCREASE IN HEALTHCARE COSTS IN NC
  • Business People: Edric Funk to take over as Toro Co. CEO
  • Insurers propose premium increases for ACA customers in Iowa
More Health/Employee Benefits News

Life Insurance News

  • LIMRA predicts strong life and annuity sales for the rest of 2026
  • Best’s Market Segment Report: AM Best Maintains Stable Outlook on Vietnam’s Non-Life Insurance Segment
  • AM Best Comments on Credit Ratings of Horace Mann Educators Corporation and Its Subsidiaries Following Announced Transaction with Medical Mutual of Ohio
  • AM Best Affirms Credit Ratings of Hanwha General Insurance Company Limited
  • Globe Life boosts Q2 earnings, eyes AI shift for long-term growth
More Life Insurance News

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Press Releases

  • Agent Review Launches Video AI Identity Verification to Help Protect Insurance Professionals, Consumers and Public Trust
  • Prosperity Life GroupSM Launches Prosperity PathWaySM Series, Bringing Greater Choice and Flexibility to Retirement Income Planning
  • Senior Market Sales® Fortifies Annuity Reach With Acquisition of Retirement Planning Firm Stratton & Company
  • RFP #T01625
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet