My friend and former colleague from the department of economics here at CSUB, Dr. David Berri, makes an interesting observation about the role of the state in society. While pointing us to this interesting Bloomberg article on libertarianism - a utopian philosophy that argues for minimal state intervention - he makes it clear that "libertarianism's time has come and gone."
Specifically, Berri writes:
Great discussion of why libertarianism -- as a governing philosophy -- doesn't work.
I tend to believe that those who like this idea -- much like Marxists -- tend to see the world as either/or. But the answer to most problems is "it depends". Sometimes the solution to a problem is more government. Sometimes it is less. Sometimes it is hard to tell. Life is complicated and simplistic answers (i.e. "we don't want government' and "we don't want capitalism") really don't work very well.
Put more simply, as I wrote in my book, "The idea that the state has been, should be, or can be simply an umpire in society is supported neither by history or market experience" (p. 8). Ultimately the state creates the conditions under which wealth is created. Period.
The moment we get back to understanding this simple point will be the moment we start moving to a better place as a society.
Here's a classic YouTube clip, which I've shared previously, that provides insight into what the Libertarian Paradise in Somalia looks like ...