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Crack-Up Capitalism: Market Radicals and the Dream of a World Without Democracy
In a revelatory dispatch from the frontier of capitalist extremism, an acclaimed historian of ideas shows how free marketeers are realizing their ultimate goal: an end to nation-states and the constraints of democracy.
Look at a map of the world and you’ll see a colorful checkerboard of nation-states. But this is not where power actually resides. Over the last decade, globalization has shattered the map into different legal spaces: free ports, tax havens, special economic zones. With the new spaces, ultracapitalists have started to believe that it is possible to escape the bonds of democratic government and oversight altogether.
Crack-Up Capitalism follows the most notorious radical libertarians - from Milton Friedman to Peter Thiel - around the globe as they search for the perfect space for capitalism. Historian Quinn Slobodian leads us from Hong Kong in the 1970s to South Africa in the late days of apartheid, from the neo-Confederate South to the former frontier of the American West, from the medieval City of London to the gold vaults of right-wing billionaires, and finally into the world’s oceans and war zones, charting the relentless quest for a blank slate where market competition is unfettered by democracy.
A masterful work of economic and intellectual history, Crack-Up Capitalism offers both a new way of looking at the world and a new vision of coming threats. Full of rich details and provocative analysis, Crack-Up Capitalism offers an alarming view of a possible future.
Look at a map of the world and you’ll see a colorful checkerboard of nation-states. But this is not where power actually resides. Over the last decade, globalization has shattered the map into different legal spaces: free ports, tax havens, special economic zones. With the new spaces, ultracapitalists have started to believe that it is possible to escape the bonds of democratic government and oversight altogether.
Crack-Up Capitalism follows the most notorious radical libertarians - from Milton Friedman to Peter Thiel - around the globe as they search for the perfect space for capitalism. Historian Quinn Slobodian leads us from Hong Kong in the 1970s to South Africa in the late days of apartheid, from the neo-Confederate South to the former frontier of the American West, from the medieval City of London to the gold vaults of right-wing billionaires, and finally into the world’s oceans and war zones, charting the relentless quest for a blank slate where market competition is unfettered by democracy.
A masterful work of economic and intellectual history, Crack-Up Capitalism offers both a new way of looking at the world and a new vision of coming threats. Full of rich details and provocative analysis, Crack-Up Capitalism offers an alarming view of a possible future.
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First published April 4, 2023
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September 2, 2023
Nothing short of mind blowing - in the very great tradition of the Marxist geographer of my heart David Harvey ❤️
For those with less time to read, there's an amazing interview on The Dig podcast (20 May 2023) with the equally amazing author Quinn Slobodian.
A very few take-aways, you really must read for yourself:
#1 - from the 90s onward, there's been an explosion of new legal entities and new spaces outside of regulation and democratic control: the so-called zones. The book argues that this 'perforation' of the nation state and governance is a specific feature of global capitalism (crack-up capitalism)
#2 The author uses the term perforation to describe how capitalism works by punching holes in the territory of the nation state, creating zones of exception with different laws and often no democratic oversight. Most of the zones are in Asia, Latin America, and Africa. China alone has almost half of them - most ardent supporters in the west who hail them as experiments for the creation of alternative political arrangements. Free market utopia might be reached through acts of secession and fragmentation, carving out liberated territory within and beyond nations. Important also the ongoing trends of privately secede - joining gated communities to create private governments in miniature. By the new millennium, about half of all new developments in the American South and West were gated and master-planned.
#3 fun fact: offshore tax shelters hold an estimated $8.7 trillion of the world's wealth; over 5,400 zones in the world
#4 the ur zone' of course is Hong Kong, then the zone model was emulated by China and later in the Gulf (Dubai etc). Great chapters on each.
#5- Ideology behind the zone: Anarcho capitalists, who were electrified by the disintegration of states and the commodification of sovereignty in the 1990s, see the 'zone' as the political form appropriate to twenty-first century capitalism (rather than democracy and the 'tyranny of the 51 per cent). They turned the conventional post Cold War narrative on its head. Instead of democratic capitalism flowing outward from a Western source, they saw a more efficient, nondemocratic form of capitalism, perfected in Asia, rolling westward to revive the 'sclerotic European race '
#6 The book includes chapters on some of the more obscure experiments on zones and secession, which also highlight the racialized dimension of crack-up capitalism: South Africa, White Somalia, silicon valley colonialism, Dubai, Liechtenstein, NEOM (Saudi Arabia's extraterritorial zone near the Jordanian and Egyptian border, experiment in private government, run by shareholders rather than the Saudi state) - among others.
#7 Imperialism: in some way, the US wars of the 21st century also represent 'zones' (including Guantanamo Bay and other secret prisons and extra judicial spaces). A great example is also the privatization of the war in Iraq - in 2008 there were as many private contractors as military personnel. Similarly, the growth of Dubai was an economic boom fed entirely by the surge in oil prices that followed the US invasion of Iraq and Afghanistan (then later on the same war lords investing their money in Dubai etc).
#8 Unlike the rhetoric, and this is the link to authoritarian capitalism, zones are not turning the world into islands of liberation from the state. Rather, states are using them as tools to advance their own purposes, strengthening the position of a handful of state capitalist superpowers.
#9 Secessionism is also driven by a desire for a flight to safety, from the pandemic to climate change, the zone has come to figure ever more as a refuge for the rich and ultra rich.
#10 This brief summary didn't do the book any justice. Must read!
April 17, 2023
When I was growing up, there were 120 countries in the world. Today there are about 200, and the trend shows no sign of slowing. Ever smaller, ever more specialized (tribal, ethnic, racial) countries is where the world is heading. It is fragmenting, not unifying. When I was in my twenties, Carl Sagan asked “Who speaks for planet Earth?” This question is ever farther away from being answerable today.
Libertarians want everyone in the USA to fend for themselves, with no overarching protection or shield. That philosophy is being extended to the whole planet. The rich want to get rid of countries and replace them with tiny, personalized local jurisdictions, ruled only by capitalism and a corporate or superrich owner. In this scenario, there would be not 200 nations globally, but hundreds of thousands. They would be united only by free trade laws. After that, anything goes for each zone. That is the essence of Crack-Up Capitalism by Quinn Slobodian.
The fraying edges of globalism, Slobodian says, are the special economic zones. They range from Hong Kong to Disney World. They have their own laws, their own economies, their own police, and greatly reduced taxation, if any at all. He says there are at least 5400 of them so far. Countries all over the world set them up for the superrich to build facilities, and hire the locals (China has half of them. Think Shenzhen, Guangzhou…). They see it as a shortcut to success for their people.
But of course, it is not a shortcut for the workers. They (mostly) can’t reside permanently in these zones; they are only for the very rich. Workers tend to live in barbwired encampments – dormitories with sparse furnishings and no services. They work six days a week for pathetic wages and no benefits. They are killed in large numbers by unsafe working and living conditions (as in building for Qatar’s World Cup extravaganza, where thousands perished). And they have no recourse. They are single-use disposables. They commit suicide at rates that forced Apple’s top vendor Foxconn to install gigantic nets around its dormitories to catch the jumpers, just like slave ships used to do. Last year, P&O Ferries simply fired everyone rather than negotiate with employees to cut wages in half. There was nothing anyone could do about it; they were registered under multiple offshore flags where employers could do what they wished. Workers are simply cheap resources that can be turned on and off at will in these zones. How they survive is of no concern to the owners.
The superrich have always been against the democracies that have given them their success. Slobodian cites Milton Friedman claiming “a democratic society, once established, destroys a free economy.” There seem to be endless capitalists who willingly state that capitalism is far more important to them than democracy. As long as they have the freedom to move themselves and their money around the world, nothing else matters.
They argue that nations spend in the wrong places, lose money to corruption and are slowed down by demands for social safety nets and safety standards that require taxation and reduce profits. Sovereign corporate republics – sovcorps – would not have these issues. No, the money just goes straight to the rich, who will pay no taxes on it. That, in their view, is ideal. Corporate crime, greed and corruption however, are not up for discussion.
Life in a sovcorp would be purely contractual. The government would provide nothing at all. Water, electricity, streets, police, fire, ambulance - absolutely everything would be by private contract (which is why only the very rich can afford to live there). Crime would be a case of breach of contract, not involving district attorneys, sheriffs or state prisons. Expulsion would be the sentence of choice. Just get rid of them and keep the fantasy going.
Like any gated community, everything would be prescribed, from the color of the house to the color of the drapes to the height of the grass on the mandatorily empty front lawn. On the other hand, there would be total freedom to consume, total freedom to pollute, and total freedom to be a self-sovereign entity. The rest of the country, or the world, is of no interest. As clean water became more scarce, the price would simply rise, without complaint from the superrich. There would be no poor, no welfare, no food banks, no Medicaid, no food inspectors, no prescription drug testing, no seatbelts and especially, no elections.
The chapters of the book profile different sovcorps, with varying degrees of corporate control. There are chapters on Hong Kong, Singapore, Lichtenstein and various South African zones that all attract big business. But none of them are pure. The Emirates are all dictatorships, financed by oil. Hong Kong is in constant turmoil as China attempts to remove democracy from it. Singapore is big government writ large, where rules right down to the length of men’s hair and the banning of chewing gum are the way of life. South African zones were all about rationalizing apartheid. Lichtenstein was a matter of a German royal family exercising its many prerogatives to set up a banking empire where there were more companies than citizens. Dubai is renowned for its “sex trafficking, child jockeys and the exploited and often unpaid workforce,” Slobodian says. They are far from utopias, but they are poster children for anarcho-capitalists; they are proof of concept.
Somalia, which lost its central government to total anarchy, became an instant object of desire, the “perfect” opportunity to set up sovcorps everywhere. The country was always tribal, which would bestow structure instantly to any zone the rich would set up. What could possibly go wrong? Somalia is a basket case of constant warring. Those tribes and families are headed by warlords jockeying for power. Only the total disrespect for lives shines through in the sovcorp model. The main industry in Somalia appears to be ship piracy and extortion.
In some ways, this is nothing new. The horrors of company towns, where the company is the law, issues company scrip that can only be used at the overpriced company store and where no freedom of speech was tolerated, are extremely well documented. I have reviewed many of the books that Slobodian cites in his thousand-plus end notes.
As well as the free trade zones, maquiladoras, special enterprise zones, sovcorps and fantasy island cities, Slobodian profiles a handful of individuals. Every era seems to have had its zealot (anarcho-capitalist fantasists, he calls them), flying the world to find space and a funder for this utopia-in-waiting. As each one failed, he would simply move on to the next one. They are not very well known names, but in a saner world, they wouldn’t have gotten even that far. In this world, they seem to find enthusiastic funders, (mainly ultra-conservative Americans) looking to make another fortune. These agents achieve their goals just by showing up and mingling at conferences of the superrich. It is yet a further threat to life on earth.
Having examined various attempts at anarcho-capitalism on land, Slobodian takes to cyberspace. There, the exact same mentality, from the exact same players (notably Peter Thiel), is driving democracy-free communities online. The parallels are just too obvious. Rich white would-be rulers launch online communities, with their rules, totally under their control. Users can lease land or build buildings, all of which remain the property of the corporation, and all manner of supplies, services and accessories are available, for good old cash. Users can stay as long as they are useful idiots, spending lots of real money, but have to leave when they stop making the owners richer or get in the way.
Slobodian is terrific at presenting all the variations of anarcho-capitalist zones, their contexts and their histories. Often it even appears they might be viable; he is that fair. But there is also another whole area he did not examine – the courts that support it all. The Roberts court, aped by other federal courts, has been strictly anti-labor, pro-corporate, in favor of rights restrictions and against women’s rights for 20 years now. These comprise exactly the framework of corporate and superrich requirements for tax-free zones. British courts have been no better. As long as the courts have their back, inequality will thrive.
Politically and historically, this model is a gigantic retrograde step. The world was a collection of walled cities until 400 years ago. Getting in was hard. Being kept out was dangerous. Membership had its privileges, and the rest be damned. Imagine needing a visa to go from New York to Boston, and being banned for overstaying. This would be a world where nothing would ever be achieved globally. Where university degrees might not be recognized from city to city. Where contracts replace constitutions, where governments provide no services at all, and do not monitor products or services for safety or fraud. Air, land and water would be privatized. Urinetown would not just be Broadway musical. You would have to pay to pee. The poor would simply be expelled to forage in the woods. Life expectancy would be measured separately for rich and for poor.
For Quinn Slobodian, the Palestinian “refugee camp” in Gaza makes an accurate look at what life in one of these zones would be like. He says the surveillance, the armed force and the technology newly developed and deployed for purpose “puts the Berlin Wall’s death strip to shame.”
Welcome to the future. And another battle to fight.
David Wineberg
Libertarians want everyone in the USA to fend for themselves, with no overarching protection or shield. That philosophy is being extended to the whole planet. The rich want to get rid of countries and replace them with tiny, personalized local jurisdictions, ruled only by capitalism and a corporate or superrich owner. In this scenario, there would be not 200 nations globally, but hundreds of thousands. They would be united only by free trade laws. After that, anything goes for each zone. That is the essence of Crack-Up Capitalism by Quinn Slobodian.
The fraying edges of globalism, Slobodian says, are the special economic zones. They range from Hong Kong to Disney World. They have their own laws, their own economies, their own police, and greatly reduced taxation, if any at all. He says there are at least 5400 of them so far. Countries all over the world set them up for the superrich to build facilities, and hire the locals (China has half of them. Think Shenzhen, Guangzhou…). They see it as a shortcut to success for their people.
But of course, it is not a shortcut for the workers. They (mostly) can’t reside permanently in these zones; they are only for the very rich. Workers tend to live in barbwired encampments – dormitories with sparse furnishings and no services. They work six days a week for pathetic wages and no benefits. They are killed in large numbers by unsafe working and living conditions (as in building for Qatar’s World Cup extravaganza, where thousands perished). And they have no recourse. They are single-use disposables. They commit suicide at rates that forced Apple’s top vendor Foxconn to install gigantic nets around its dormitories to catch the jumpers, just like slave ships used to do. Last year, P&O Ferries simply fired everyone rather than negotiate with employees to cut wages in half. There was nothing anyone could do about it; they were registered under multiple offshore flags where employers could do what they wished. Workers are simply cheap resources that can be turned on and off at will in these zones. How they survive is of no concern to the owners.
The superrich have always been against the democracies that have given them their success. Slobodian cites Milton Friedman claiming “a democratic society, once established, destroys a free economy.” There seem to be endless capitalists who willingly state that capitalism is far more important to them than democracy. As long as they have the freedom to move themselves and their money around the world, nothing else matters.
They argue that nations spend in the wrong places, lose money to corruption and are slowed down by demands for social safety nets and safety standards that require taxation and reduce profits. Sovereign corporate republics – sovcorps – would not have these issues. No, the money just goes straight to the rich, who will pay no taxes on it. That, in their view, is ideal. Corporate crime, greed and corruption however, are not up for discussion.
Life in a sovcorp would be purely contractual. The government would provide nothing at all. Water, electricity, streets, police, fire, ambulance - absolutely everything would be by private contract (which is why only the very rich can afford to live there). Crime would be a case of breach of contract, not involving district attorneys, sheriffs or state prisons. Expulsion would be the sentence of choice. Just get rid of them and keep the fantasy going.
Like any gated community, everything would be prescribed, from the color of the house to the color of the drapes to the height of the grass on the mandatorily empty front lawn. On the other hand, there would be total freedom to consume, total freedom to pollute, and total freedom to be a self-sovereign entity. The rest of the country, or the world, is of no interest. As clean water became more scarce, the price would simply rise, without complaint from the superrich. There would be no poor, no welfare, no food banks, no Medicaid, no food inspectors, no prescription drug testing, no seatbelts and especially, no elections.
The chapters of the book profile different sovcorps, with varying degrees of corporate control. There are chapters on Hong Kong, Singapore, Lichtenstein and various South African zones that all attract big business. But none of them are pure. The Emirates are all dictatorships, financed by oil. Hong Kong is in constant turmoil as China attempts to remove democracy from it. Singapore is big government writ large, where rules right down to the length of men’s hair and the banning of chewing gum are the way of life. South African zones were all about rationalizing apartheid. Lichtenstein was a matter of a German royal family exercising its many prerogatives to set up a banking empire where there were more companies than citizens. Dubai is renowned for its “sex trafficking, child jockeys and the exploited and often unpaid workforce,” Slobodian says. They are far from utopias, but they are poster children for anarcho-capitalists; they are proof of concept.
Somalia, which lost its central government to total anarchy, became an instant object of desire, the “perfect” opportunity to set up sovcorps everywhere. The country was always tribal, which would bestow structure instantly to any zone the rich would set up. What could possibly go wrong? Somalia is a basket case of constant warring. Those tribes and families are headed by warlords jockeying for power. Only the total disrespect for lives shines through in the sovcorp model. The main industry in Somalia appears to be ship piracy and extortion.
In some ways, this is nothing new. The horrors of company towns, where the company is the law, issues company scrip that can only be used at the overpriced company store and where no freedom of speech was tolerated, are extremely well documented. I have reviewed many of the books that Slobodian cites in his thousand-plus end notes.
As well as the free trade zones, maquiladoras, special enterprise zones, sovcorps and fantasy island cities, Slobodian profiles a handful of individuals. Every era seems to have had its zealot (anarcho-capitalist fantasists, he calls them), flying the world to find space and a funder for this utopia-in-waiting. As each one failed, he would simply move on to the next one. They are not very well known names, but in a saner world, they wouldn’t have gotten even that far. In this world, they seem to find enthusiastic funders, (mainly ultra-conservative Americans) looking to make another fortune. These agents achieve their goals just by showing up and mingling at conferences of the superrich. It is yet a further threat to life on earth.
Having examined various attempts at anarcho-capitalism on land, Slobodian takes to cyberspace. There, the exact same mentality, from the exact same players (notably Peter Thiel), is driving democracy-free communities online. The parallels are just too obvious. Rich white would-be rulers launch online communities, with their rules, totally under their control. Users can lease land or build buildings, all of which remain the property of the corporation, and all manner of supplies, services and accessories are available, for good old cash. Users can stay as long as they are useful idiots, spending lots of real money, but have to leave when they stop making the owners richer or get in the way.
Slobodian is terrific at presenting all the variations of anarcho-capitalist zones, their contexts and their histories. Often it even appears they might be viable; he is that fair. But there is also another whole area he did not examine – the courts that support it all. The Roberts court, aped by other federal courts, has been strictly anti-labor, pro-corporate, in favor of rights restrictions and against women’s rights for 20 years now. These comprise exactly the framework of corporate and superrich requirements for tax-free zones. British courts have been no better. As long as the courts have their back, inequality will thrive.
Politically and historically, this model is a gigantic retrograde step. The world was a collection of walled cities until 400 years ago. Getting in was hard. Being kept out was dangerous. Membership had its privileges, and the rest be damned. Imagine needing a visa to go from New York to Boston, and being banned for overstaying. This would be a world where nothing would ever be achieved globally. Where university degrees might not be recognized from city to city. Where contracts replace constitutions, where governments provide no services at all, and do not monitor products or services for safety or fraud. Air, land and water would be privatized. Urinetown would not just be Broadway musical. You would have to pay to pee. The poor would simply be expelled to forage in the woods. Life expectancy would be measured separately for rich and for poor.
For Quinn Slobodian, the Palestinian “refugee camp” in Gaza makes an accurate look at what life in one of these zones would be like. He says the surveillance, the armed force and the technology newly developed and deployed for purpose “puts the Berlin Wall’s death strip to shame.”
Welcome to the future. And another battle to fight.
David Wineberg
Read
January 14, 2025A compelling account of the libertarians who care remarkably little for what you or I actually conceive of as liberty (i.e. free speech, democratic representation, the conviction that slavery is actually bad, or for that matter even keeping the fuckin’ government off your back), and their various “disruptions” to legal and political structures over the past few decades, not contra the state, but perfectly in line with it, with the end goal being a series of private fiefdoms based on blockchain contracts. From Hyde Park Chicago to the dumb fucking line city in the Saudi desert, these are their stories. And they’re told remarkably well.
Of course, like most of the books I read about the Mont Pelerin Society’s slow takeover of our world, we don’t get any answers, which leads me to the regrettable conclusion that I’ll likely die in some ugly little greige box. The sort of thing that makes me want to detonate the fucking vest.
One minor quibble – a totally immaterial factual error that did piss me off, his claim that China built a high-speed train to Singapore. No they didn’t. They’re working on it… but it’s a long way off of completion. That doesn’t discredit the text, and I’m sure most nonfiction books have similar errors that I wouldn’t notice (and which I only noticed because transportation in Southeast Asia is particular area of interest for me). Food for thought.
Of course, like most of the books I read about the Mont Pelerin Society’s slow takeover of our world, we don’t get any answers, which leads me to the regrettable conclusion that I’ll likely die in some ugly little greige box. The sort of thing that makes me want to detonate the fucking vest.
One minor quibble – a totally immaterial factual error that did piss me off, his claim that China built a high-speed train to Singapore. No they didn’t. They’re working on it… but it’s a long way off of completion. That doesn’t discredit the text, and I’m sure most nonfiction books have similar errors that I wouldn’t notice (and which I only noticed because transportation in Southeast Asia is particular area of interest for me). Food for thought.
April 15, 2023
Undoubtedly, the historical exploration of special economic zones and their diverse manifestations and operations presents intriguing aspects. My experience in economic development has acquainted me with Free Trade Zones, Government Property Lease Excise Tax schemes, and Tax Increment Financing, among others.
Upon engaging with the text, I noted that the author referenced established scholars such as Saskia Sassen and Isabella Weber. However, the absence of citations from Hartmut Rosa—whose extensive work delves into the logics of capital and the necessity for the ever-increasing speed of capital circulation to maintain social equilibrium and foster growth—was surprising as these economic zones are specifically designed for the increased speed and volume of capital flow at the expense of local sovereignty.
My primary critique lies in Slobodian's failure to provide recommendations for countering the expansion of special economic development zones, which appear to coincide with the decline of democracy (a phenomenon Rosa foresaw in his 2005 publication Social Acceleration A New Theory of Modernity) and the emergence of autocratic capitalist nation-states. It is essential to recognize that, in late modernity, democracy seems to stand in opposition to the logics of capital, a paradox astutely observed by Hartmut Rosa.
In my perspective, a publication of this nature may offer limited value given that the content presented is already widely acknowledged and comprehended. The more pressing and unresolved inquiry lies in identifying strategies to address these issues without instigating large-scale violence and societal devastation.
Slobodian seems terrified by this prospect and never addresses this issue.
Upon engaging with the text, I noted that the author referenced established scholars such as Saskia Sassen and Isabella Weber. However, the absence of citations from Hartmut Rosa—whose extensive work delves into the logics of capital and the necessity for the ever-increasing speed of capital circulation to maintain social equilibrium and foster growth—was surprising as these economic zones are specifically designed for the increased speed and volume of capital flow at the expense of local sovereignty.
My primary critique lies in Slobodian's failure to provide recommendations for countering the expansion of special economic development zones, which appear to coincide with the decline of democracy (a phenomenon Rosa foresaw in his 2005 publication Social Acceleration A New Theory of Modernity) and the emergence of autocratic capitalist nation-states. It is essential to recognize that, in late modernity, democracy seems to stand in opposition to the logics of capital, a paradox astutely observed by Hartmut Rosa.
In my perspective, a publication of this nature may offer limited value given that the content presented is already widely acknowledged and comprehended. The more pressing and unresolved inquiry lies in identifying strategies to address these issues without instigating large-scale violence and societal devastation.
Slobodian seems terrified by this prospect and never addresses this issue.
March 11, 2025
5 stars well 4.5 really (not cos it was the most amazing book ever, but as with all my nonfic ratings cos I can't imagine a better explication of the topic) The minus half star only cos I thought the Silicon Valley-related chapter a bit under-baked, but then again really that needs its own whole book, which I shall be looking for lemme tellya...
How did we let ourselves get here, exactly? Where unelected billionaires not only get to squirriel away all those v v ill-gotten gains, but also get to take over what was left of the democratic process and hijack even that for their own white-angora-cat-stroking-level evil purposes? Huh?
Well, Quinn Slobodian's book charts how that came to be, my friends. Read it, weep, then get angry, and organized for Chrissakes. They want capitalism without democracy, people!
I do hope to do a multi-book political economy blog including this'un soonish, will link here it it turns out...
How did we let ourselves get here, exactly? Where unelected billionaires not only get to squirriel away all those v v ill-gotten gains, but also get to take over what was left of the democratic process and hijack even that for their own white-angora-cat-stroking-level evil purposes? Huh?
Well, Quinn Slobodian's book charts how that came to be, my friends. Read it, weep, then get angry, and organized for Chrissakes. They want capitalism without democracy, people!
I do hope to do a multi-book political economy blog including this'un soonish, will link here it it turns out...
March 10, 2025
This was a disappointing read. Some of this is a function of the author's inability to have a reasonable theory-of-mind for (tech) capitalists and "market radicals." More importantly, the author fails to do any rigorous economic and political analysis at all, conflating and flattening a number of interrelated yet often distinct processes. For instance, Slobodian never addresses the central premise of his thesis or why such a premise would true and the consequences thereof. The unspoken premise is that narrow individual property rights conflict with the civil and political rights of the broader populace. Even if this is true (a contention I've skeptical of) or can be true in certain situations (less skeptical of but also don't see viable alternatives), Slobodian chooses to avoid reckoning with these apparent tradeoffs, implicitly assuming that democratic governments have a legitimate right to confiscate the property of individuals as long as majorities are for it.
In Crack-Up Capitalism, we end up with is a polemic disguised as analysis. Slobodian is tries his best to tar pro-growth and pro-liberty experimentation with elitism, racism, and corruption. Such unpleasantness and transgression is not a function of market economics, it is an inextricable aspect of human behavior. In fact, there are auspicious inverse correlations between economic growth and anti-social human behavior. If anything, Slobodian is arguing with himself. Due to Slobodian's failure to persuade, it is easy for a reader to simply ignore his tepid guilt-by-association tactics and enjoy learning about the various special economic zones (SEZs) and the inventive people doing interesting things.
The world needs more solutions for optimizing growth. And not every nation can have a political system and history like America. Many of the Asian and Latin American regions that are Slobodian's focus are desperately trying to catch up to America's economic might any way they can. Does material prosperity or political rights matter more in these places. Both sides of the equation have been tried and the former has proceeded with greater stability. It is unfortunate academic types are so afraid of market-based and political experimentation. Oh my, are they the aristocrats of yore? Thank goodness all they can do now is write books (no one reads) and whine online now.
In Crack-Up Capitalism, we end up with is a polemic disguised as analysis. Slobodian is tries his best to tar pro-growth and pro-liberty experimentation with elitism, racism, and corruption. Such unpleasantness and transgression is not a function of market economics, it is an inextricable aspect of human behavior. In fact, there are auspicious inverse correlations between economic growth and anti-social human behavior. If anything, Slobodian is arguing with himself. Due to Slobodian's failure to persuade, it is easy for a reader to simply ignore his tepid guilt-by-association tactics and enjoy learning about the various special economic zones (SEZs) and the inventive people doing interesting things.
The world needs more solutions for optimizing growth. And not every nation can have a political system and history like America. Many of the Asian and Latin American regions that are Slobodian's focus are desperately trying to catch up to America's economic might any way they can. Does material prosperity or political rights matter more in these places. Both sides of the equation have been tried and the former has proceeded with greater stability. It is unfortunate academic types are so afraid of market-based and political experimentation. Oh my, are they the aristocrats of yore? Thank goodness all they can do now is write books (no one reads) and whine online now.
April 15, 2023
no better book to make me viscerally despise several nobel prize winners in economics
in all seriousness, if you care at all about democratic institutions, who gets to determine the future of nations, and the global dispossessed you should read this book; it’s well worth the time and engagingly written.
in all seriousness, if you care at all about democratic institutions, who gets to determine the future of nations, and the global dispossessed you should read this book; it’s well worth the time and engagingly written.
March 1, 2025
Read this if you want to understand why Musk and J.D. Vance captured Trump and the U.S.A. and are doing what they are doing. Both hailing from a background in apartheid- South-Africa/Namibia, Musk & Peter Thiel, both tech entrepreneurs into crypto, consider democracy and large nation states to be obsolete. But instead of emulating the tax-free charter cities modelled after Hong Kong, Liechtenstein, Singapore, like Somaliland, Liberland ..., or instead of aiming for an exodus to Mars, they seem to have decided that it is easier to take entire nations onto the course of anarchocapitalism. Quite a bit of science fiction is mentioned (Joseph Vogl pointed out the inspiration as well). It's all quite shocking, but insightful.
December 3, 2024
An interesting look into the bizarre world of anarcho-capitalism and the frightening cases where extreme neo liberal and anarcho-capitalist ideas have been brought to life from the mid 20th century till today.
August 29, 2023
Very interesting read, closely related to my own work in the international tax field.
Slobodian outlines the sometimes frighteningly anti-democratic ideology behind tax havens and special economic zones, tracing their origin to the fascination of the radical market-oriented Mont Pelerin Society with the Asian tigers Hong Kong and Singapore, making the link with the development of the City of London and Canary Wharf and also focusing on the more recent example of Dubai. Also fascinating were the chapters on Liechtenstein and Honduras.
Even though the emphasis is on the Ayn Rand-inspired desire of some capitalists to exit democratic polities to escape in particular taxation and regulation, the book made me think a lot about the insufficiency of the current conceptual framework around international taxation.
In fact the definition of "harmful competition" that now dominates international cooperation on taxation covers only attracting profits that don't reflect genuine economic activities. It doesn't cover what most of the jurisdictions that are mentioned in this book engage in, which is attracting real investment with zero taxation and zero regulation.
I think after reading this book it's hard to argue that this sort of tax competition is harmless, especially for democratic societies. It undercuts the social contract. How such harmful tax competition could be countered is of course an important question.
Slobodian outlines the sometimes frighteningly anti-democratic ideology behind tax havens and special economic zones, tracing their origin to the fascination of the radical market-oriented Mont Pelerin Society with the Asian tigers Hong Kong and Singapore, making the link with the development of the City of London and Canary Wharf and also focusing on the more recent example of Dubai. Also fascinating were the chapters on Liechtenstein and Honduras.
Even though the emphasis is on the Ayn Rand-inspired desire of some capitalists to exit democratic polities to escape in particular taxation and regulation, the book made me think a lot about the insufficiency of the current conceptual framework around international taxation.
In fact the definition of "harmful competition" that now dominates international cooperation on taxation covers only attracting profits that don't reflect genuine economic activities. It doesn't cover what most of the jurisdictions that are mentioned in this book engage in, which is attracting real investment with zero taxation and zero regulation.
I think after reading this book it's hard to argue that this sort of tax competition is harmless, especially for democratic societies. It undercuts the social contract. How such harmful tax competition could be countered is of course an important question.
February 18, 2024
Die feuchten Träume des Anarchokapitalismus werden detailreich beschrieben und über diverse Stationen (Hongkong, Singapore, Dubai etc.) in ihrer Entwicklung verfolgt. Deutlich wird auch, dass hier zwar Spinner am Werk sind, die sich meist über die Grundlagen ihrer Vorstellungen (Staats- und Demokratiefreiheit) täuschen, so dass das Ganze als Illusion kenntlich wird, diese Spinner gleichwohl gefährlich für Demokratie und/ oder Staatlichkeit werden, weil sie eine ungeheure Kapitalmacht zur Umsetzung ihrer Experimente mobilisieren und die betroffenen Menschen im Falle eines Scheiterns straffrei zurück lassen können. Bevorzugtes Terrain solcher Aktivitäten, für die Hongkong und Singapoore nur Vorbilder sind, sind failed states oder solche, die man zu failed states machen kann. Das sagt schon alles über die Folgen der Errichtung von Sonderwirtschafts- oder Finanzzonen, die dem Zugriff einer wie auch immer daher kommenden Sozial- und Steuerstaatsmacht entzogen werden.
Damit liegt ein Lehrbuch darüber vor, wie die Reichen (und Schönen?) Staaten und die von ihnen bereitgestellte Infrastruktur (Internet!) zwar ausnutzen, sich aber aus der Finanzierung dieser Grundlagen der eigenen Existenz zurückziehen wollen. Das Spiel geht daher logisch nicht auf, weil es keinerlei Nachhaltigkeit der Existenzsicherung auch nur der eigenen Profitgrundlagen einschließt, gleichwohl ist es verlockend, weil es Steuerfreiheit verheißt. Wenn es um Profitsteigerung geht, ist der intelligenteste Mensch halt blind. Leute, die diese Träume träumen, erscheinen so als das, was sie sind: Egoistische und sozialdarwinistisch verblendete Individualisten, die sich fälschlicherweise als Leistung zuschreiben, was sie sich angeeignet, also anderen weggenommen haben. Peter Thiel lässt grüßen.
Soweit so gut. Allerdings kommen die Analyse des Herkommens solcher Ideen und ihre Begründung aus der zerfallenden (?) ökonomischen Basis des Kapitalismus etwas zu kurz. Vielleicht gibt es da auch nichts zu theoretisieren, weil die reine Darstellung der Machenschaften "Theorie" genug ist, dennoch bleiben die Antriebe und Gründe dafür, dass Politiker diesen Quatsch immer wieder (!) mitmachen und an die seligmachenden "Effekte" einer auf das Format einer Firmenleitung geschrumpften Staatsverwaltung glauben, einigermaßen im Dunkeln. Klar wird lediglich, dass wir uns weiter mit solchen Versuchen der Eliten, sich dem Staat zu entziehen, werden beschäftigen müssen. Wobei mir persönlich gefährlicher erscheint, was am Schluss des Buches angedeutet wird, nämlich dass die Eliten auch verstehen können, dass es besser ist, den Staat zu übernehmen und in eine Privatfirma zu verwandeln (Modell Dubai), als ihn abzuschaffen. Immerhin wird man dessen Gewaltmonopol brauchen, um den Widerstand gegen die angedachte Verelendung der Massen niederzuhalten und sie zu zwingen, als Butler und sonstiges billiges Fußvolk Gewehr bei Fuß zu stehen, wenn die Superreichen zur Party gefahren werden wollen, auf der auch serviert werden muss. Ob's nutzt, weiß ich nicht, aber vielleicht sei das Buch vor allem denjenigen jungen (leider wohl Nicht-)Lesern empfohlen, für die Herren wie Jeff Besos, Elon Musk oder das empathielose Schw*n Steve Jobs ungetrübte Vorbilder sind. Naja, dazu ist es auch zu umfangreich, was ich übrigens ernst meine. Die prägnant formulierte Grundthese und ein paar schlagende Beispiele auf 200 Seiten hätten die Aussage des Buches auch getragen. Der Rest war Fleißarbeit und belegt, dass die aufgestellten Behauptungen "gut belegt" sind, wozu übrigens auch der umfangreiche Anmerkungsapparat mit Nachweisen und Querverweisen das seine beiträgt. Ja, Kapitalismus braucht keine Demokratie, das ist das bedrückende Fazit. Er braucht nur "Regeln", am besten solche, die er sich - jenseits aller Tradition - selber gibt. Das nennt sich dann "libertär" und ist nichts als geistiges Elend.
Damit liegt ein Lehrbuch darüber vor, wie die Reichen (und Schönen?) Staaten und die von ihnen bereitgestellte Infrastruktur (Internet!) zwar ausnutzen, sich aber aus der Finanzierung dieser Grundlagen der eigenen Existenz zurückziehen wollen. Das Spiel geht daher logisch nicht auf, weil es keinerlei Nachhaltigkeit der Existenzsicherung auch nur der eigenen Profitgrundlagen einschließt, gleichwohl ist es verlockend, weil es Steuerfreiheit verheißt. Wenn es um Profitsteigerung geht, ist der intelligenteste Mensch halt blind. Leute, die diese Träume träumen, erscheinen so als das, was sie sind: Egoistische und sozialdarwinistisch verblendete Individualisten, die sich fälschlicherweise als Leistung zuschreiben, was sie sich angeeignet, also anderen weggenommen haben. Peter Thiel lässt grüßen.
Soweit so gut. Allerdings kommen die Analyse des Herkommens solcher Ideen und ihre Begründung aus der zerfallenden (?) ökonomischen Basis des Kapitalismus etwas zu kurz. Vielleicht gibt es da auch nichts zu theoretisieren, weil die reine Darstellung der Machenschaften "Theorie" genug ist, dennoch bleiben die Antriebe und Gründe dafür, dass Politiker diesen Quatsch immer wieder (!) mitmachen und an die seligmachenden "Effekte" einer auf das Format einer Firmenleitung geschrumpften Staatsverwaltung glauben, einigermaßen im Dunkeln. Klar wird lediglich, dass wir uns weiter mit solchen Versuchen der Eliten, sich dem Staat zu entziehen, werden beschäftigen müssen. Wobei mir persönlich gefährlicher erscheint, was am Schluss des Buches angedeutet wird, nämlich dass die Eliten auch verstehen können, dass es besser ist, den Staat zu übernehmen und in eine Privatfirma zu verwandeln (Modell Dubai), als ihn abzuschaffen. Immerhin wird man dessen Gewaltmonopol brauchen, um den Widerstand gegen die angedachte Verelendung der Massen niederzuhalten und sie zu zwingen, als Butler und sonstiges billiges Fußvolk Gewehr bei Fuß zu stehen, wenn die Superreichen zur Party gefahren werden wollen, auf der auch serviert werden muss. Ob's nutzt, weiß ich nicht, aber vielleicht sei das Buch vor allem denjenigen jungen (leider wohl Nicht-)Lesern empfohlen, für die Herren wie Jeff Besos, Elon Musk oder das empathielose Schw*n Steve Jobs ungetrübte Vorbilder sind. Naja, dazu ist es auch zu umfangreich, was ich übrigens ernst meine. Die prägnant formulierte Grundthese und ein paar schlagende Beispiele auf 200 Seiten hätten die Aussage des Buches auch getragen. Der Rest war Fleißarbeit und belegt, dass die aufgestellten Behauptungen "gut belegt" sind, wozu übrigens auch der umfangreiche Anmerkungsapparat mit Nachweisen und Querverweisen das seine beiträgt. Ja, Kapitalismus braucht keine Demokratie, das ist das bedrückende Fazit. Er braucht nur "Regeln", am besten solche, die er sich - jenseits aller Tradition - selber gibt. Das nennt sich dann "libertär" und ist nichts als geistiges Elend.
January 19, 2025
Crack up capitalism is another excellent exploration of corporate politics and statecraft, this time with an eye on ‘the zone’ and how special economic zones are being created at breakneck speed to feed special interests the world over.
The thousands of economic zones the world over that turn states that appear as hegemonies into a Swiss cheese of tax avoidance, authoritarianism and forced labour is brought to light in stunningly efficient detail by Quinn Slobodian.
Each chapter takes aim at a different person or place, ranging from Hong Kong to Singapore, Liechtenstein and London, to Silicon Valley and the metaverse. The ideologies guiding the creation of economic zones, an issue far more rampant than I was aware, are explored from their initial conception to present day. The prevailing impression that states are growing more powerful and hegemonic is not as it seems. Extra jurisdictional zones are being rapidly carved out of powerful nations by economic interests seeking to expand profit making. Secessionist movements from Scotland to Catalonia and even in the new US are being encouraged and eyed hungrily by capitalists the world over in the hopes of finding new markets to explore and loopholes to exploit.
Despite any fanciful self-aggrandising statecraft being practiced by the world’s most powerful libertarians, these zones however exploited, are still held in place by the workers. Zuckerburg may imagine a world in the cloud, but it sits there on the backs of poor workers the world over.
Slobodian makes perfect sense of this rush by the wealthy to carve out polities to practice and imagine capitalism without democracy was fascinating, but the scope of the book was primarily concerned with providing examples of his thesis. While thoroughly proved, and reinforced I was not sure of what to do with the information provided, nor what the future will look like under a more economically free but politically oppressed society.
I can respect the decision to stick to the facts at hand without contaminating ones’ work with theories or predictions but I left wanting for a prevailing through line beyond what was established early on about the ascendency of zones and the devastating authoritarian influence of wealthy libertarians on contemporary statecraft.
The thousands of economic zones the world over that turn states that appear as hegemonies into a Swiss cheese of tax avoidance, authoritarianism and forced labour is brought to light in stunningly efficient detail by Quinn Slobodian.
Each chapter takes aim at a different person or place, ranging from Hong Kong to Singapore, Liechtenstein and London, to Silicon Valley and the metaverse. The ideologies guiding the creation of economic zones, an issue far more rampant than I was aware, are explored from their initial conception to present day. The prevailing impression that states are growing more powerful and hegemonic is not as it seems. Extra jurisdictional zones are being rapidly carved out of powerful nations by economic interests seeking to expand profit making. Secessionist movements from Scotland to Catalonia and even in the new US are being encouraged and eyed hungrily by capitalists the world over in the hopes of finding new markets to explore and loopholes to exploit.
Despite any fanciful self-aggrandising statecraft being practiced by the world’s most powerful libertarians, these zones however exploited, are still held in place by the workers. Zuckerburg may imagine a world in the cloud, but it sits there on the backs of poor workers the world over.
Slobodian makes perfect sense of this rush by the wealthy to carve out polities to practice and imagine capitalism without democracy was fascinating, but the scope of the book was primarily concerned with providing examples of his thesis. While thoroughly proved, and reinforced I was not sure of what to do with the information provided, nor what the future will look like under a more economically free but politically oppressed society.
I can respect the decision to stick to the facts at hand without contaminating ones’ work with theories or predictions but I left wanting for a prevailing through line beyond what was established early on about the ascendency of zones and the devastating authoritarian influence of wealthy libertarians on contemporary statecraft.
March 10, 2023
Thanks to Macmillan Audio through Net Galley who allowed me to listen to the audio version of this book.
Quinn Slobodian describes a group of rich people with a disturbing and dangerous set of values. I have always been taught that capitalism and democracy go together, but certain very rich libertarians believe that democracy should be demolished. Democracy just gives the inferior underclass a way to steal money from the superior rich through taxation. Some of these libertarians want to create many new micro-nations following the example of Hong Kong, Singapore, and Liechtenstein. If they can’t create new countries they at least want more tax free, regulation free zones in countries. I think that this is an important topic that normal people need to be aware of. Rich people can easily create propaganda that will fool the rest of us into giving away our rights if we don’t know what to look out for.
Keith Sellon-Wright was an excellent narrator for this book. He has a good blend of natural and radio voice that is pleasant to listen to.
Quinn Slobodian describes a group of rich people with a disturbing and dangerous set of values. I have always been taught that capitalism and democracy go together, but certain very rich libertarians believe that democracy should be demolished. Democracy just gives the inferior underclass a way to steal money from the superior rich through taxation. Some of these libertarians want to create many new micro-nations following the example of Hong Kong, Singapore, and Liechtenstein. If they can’t create new countries they at least want more tax free, regulation free zones in countries. I think that this is an important topic that normal people need to be aware of. Rich people can easily create propaganda that will fool the rest of us into giving away our rights if we don’t know what to look out for.
Keith Sellon-Wright was an excellent narrator for this book. He has a good blend of natural and radio voice that is pleasant to listen to.
July 1, 2023
Professor Slobodian’s monograph is more aptly titled “Crackup Government.” He recounts a 50 year litany of perks and giveaways to favored individuals and businesses to the detriment of societal fairness and equity.
The rambling book unconvincingly attempts to connect any individuals who cite a libertarian principle into a purported coordinated global movement. The narrative just ends without a conclusion chapter leaving readers perplexed.
For a book describing the evils of capitalism, the professor fails to define his terms. Readers don’t benefit from a definition of capitalism. As result, Slobodian equates a Somali version of capitalism with Chinese and even gated communities in the US.
While this book may appeal to anti-capitalists, it does little to elucidate how best to organize and govern societies.
The rambling book unconvincingly attempts to connect any individuals who cite a libertarian principle into a purported coordinated global movement. The narrative just ends without a conclusion chapter leaving readers perplexed.
For a book describing the evils of capitalism, the professor fails to define his terms. Readers don’t benefit from a definition of capitalism. As result, Slobodian equates a Somali version of capitalism with Chinese and even gated communities in the US.
While this book may appeal to anti-capitalists, it does little to elucidate how best to organize and govern societies.
August 19, 2025
aside from the asia chapters, the style — of building up a “strong” (if i came in with no views of my own) argument for one side and then tearing it down in way fewer words and much more succinctly — worked v well for me! shout out to my ignorance which i hope is being chipped away at
December 6, 2025
9/10
Last two chapters are pretty sloppy. Otherwise, it is an engaging and informative look into anarcho-capitalists and the micro-states they admire.
Last two chapters are pretty sloppy. Otherwise, it is an engaging and informative look into anarcho-capitalists and the micro-states they admire.
May 22, 2025
This book reads like a precursor to the events unfolding in the United States: eliminating democracy, or preventing its rise, with the single goal of giving corporations more power through lower wages, less red tape and no taxes.
What makes Quinn Slobodian an interesting writer is that he can connect phenomena through an overarching theme, without falling into the practice of cherry picking facts from obscure sources. On top, he mixes traditional and modern pop-culture analogies for clarification, making this book relatable for a lat of people, and generations, with an interest in society and economics.
What makes Quinn Slobodian an interesting writer is that he can connect phenomena through an overarching theme, without falling into the practice of cherry picking facts from obscure sources. On top, he mixes traditional and modern pop-culture analogies for clarification, making this book relatable for a lat of people, and generations, with an interest in society and economics.
October 28, 2024
An entertaining romp through the bizarre cast of characters who built the kaleidoscopic system of microsovereignties that make up the world of tax havens, export processing zones, and other spaces of exception from the “normal rules of the game” regarding labor, regulation, and taxation. What sets Slobodian’s book apart from the many other more journalistic accounts of this “voided patterning” designed to serve the needs of the super rich is its attention to the ideological substrate from which this world arose, namely, the utopian dream of an escape from responsibilities toward others, in other words, an economic secession from democratic oversight and indeed from politics as such. “Crack-up capitalists spot signs of mutation in the social contract,” Slobodian writes, describing the political arbitrage strategies of the plutocratic insurgents, “and ask whether they could accelerate and profit from the dynamics of dissolution.” (4)
What's most admirable about this book is the vim of the writing as he dives into the details of one crank plutocratic insurgency idea after another, some of who are well-known (e.g., Milton Friedman, his grandson Patri, Peter Thiel, Murray Rothbard, Curtis Yarvin, Pat Buchanan, Richard Spencer, and Paul Romer, William Rees-Mogg, and Balaji Srinivasan) and others barely known outside the anarcho-capitalist fever swamps (e.g., Alvin Rabuschka, Stuart Butler, Albert Wensimius, Leon Louw, Carel Boshoff, Peter Brimelow, Hans-Herman Hoppe, Bruce Benson, Hans-Adam II of Lichtenstein, Michael Van Notten, and Patrick Schumacher). It captures the links between different sorts of pro-capitalist anti-statist (and thus anti-electoral-democracy) visions, connecting Late Colonial Hong Kong, the authoritarian paternalism of Singapore, the racial separatism of Apartheid South Africa, neo-Confederates in America, gated communities, sea-steading, freeports in the UAE, and fantasies of renewed colonialism.
What's most admirable about this book is the vim of the writing as he dives into the details of one crank plutocratic insurgency idea after another, some of who are well-known (e.g., Milton Friedman, his grandson Patri, Peter Thiel, Murray Rothbard, Curtis Yarvin, Pat Buchanan, Richard Spencer, and Paul Romer, William Rees-Mogg, and Balaji Srinivasan) and others barely known outside the anarcho-capitalist fever swamps (e.g., Alvin Rabuschka, Stuart Butler, Albert Wensimius, Leon Louw, Carel Boshoff, Peter Brimelow, Hans-Herman Hoppe, Bruce Benson, Hans-Adam II of Lichtenstein, Michael Van Notten, and Patrick Schumacher). It captures the links between different sorts of pro-capitalist anti-statist (and thus anti-electoral-democracy) visions, connecting Late Colonial Hong Kong, the authoritarian paternalism of Singapore, the racial separatism of Apartheid South Africa, neo-Confederates in America, gated communities, sea-steading, freeports in the UAE, and fantasies of renewed colonialism.
November 10, 2023
First there was Hong Kong and Singapore, where there is little democracy, maximum economic freedom and little workers’ rights. Then the city of London was built in Hong Kong’s image. Later there is Dubai, and of course Lichtenstein. China learnt from Singapore and built lots of special economic zones.
Libertarians expect zero taxation, a ban on unions, freedom to move their money, and cost-free land if possible. The more radical ones even want to build special zones with privatised justice and police systems. They are thankfully largely unsuccessful. Because a lack of central government only leads to anarchy.
Well. It seems Singapore is the model for lots of Middle Eastern and African countries. However, they do not have the incorruptible Lee Kuan Yew and his team. Even in Singapore, the super-rich are reminded to share their wealth, and one particular money-laundering group has been busted. Surely some will leave Singapore. But too big an influx of money is surely not great for any local population, driving up housing and other goods. And paradoxically without a strong government, free markets cannot function.
A great read deserving 5 stars!
Libertarians expect zero taxation, a ban on unions, freedom to move their money, and cost-free land if possible. The more radical ones even want to build special zones with privatised justice and police systems. They are thankfully largely unsuccessful. Because a lack of central government only leads to anarchy.
Well. It seems Singapore is the model for lots of Middle Eastern and African countries. However, they do not have the incorruptible Lee Kuan Yew and his team. Even in Singapore, the super-rich are reminded to share their wealth, and one particular money-laundering group has been busted. Surely some will leave Singapore. But too big an influx of money is surely not great for any local population, driving up housing and other goods. And paradoxically without a strong government, free markets cannot function.
A great read deserving 5 stars!
January 24, 2025
The book offers a fascinating exploration of people and places that have experimented with extreme forms of capitalism devoid of democratic structures. Rather than focusing on the traditional examples, such as Latin American dictatorships, it delves into more inventive mechanisms used to carve out capitalist "zones" or enclaves, deliberately insulated from democratic influences.
The topic is of utmost importance in today’s geopolitical landscape, where the perceived success of authoritarian models in Asia may entice democratic societies yearning for efficiency—enchanted by the gleaming skyscrapers of Shanghai, Dubai, or Singapore. The book is thoroughly researched and elegantly written, though it is not, by any means, a page-turner.
Where it falls short, however, is in its lack of analysis. The narrative leans heavily on description, seemingly attempting to counter the arguments presented in the case studies through sheer self-evidence. While this approach is effective to an extent, in a world where Western discourse increasingly centers on "abundance," dismissing phenomena like those studied by Slobodian as obviously fringe risks missing an opportunity to engage with their complexities and to glean deeper insights into the dynamics shaping our world.
The topic is of utmost importance in today’s geopolitical landscape, where the perceived success of authoritarian models in Asia may entice democratic societies yearning for efficiency—enchanted by the gleaming skyscrapers of Shanghai, Dubai, or Singapore. The book is thoroughly researched and elegantly written, though it is not, by any means, a page-turner.
Where it falls short, however, is in its lack of analysis. The narrative leans heavily on description, seemingly attempting to counter the arguments presented in the case studies through sheer self-evidence. While this approach is effective to an extent, in a world where Western discourse increasingly centers on "abundance," dismissing phenomena like those studied by Slobodian as obviously fringe risks missing an opportunity to engage with their complexities and to glean deeper insights into the dynamics shaping our world.
March 12, 2024
The book raises interesting points and gives a good (historical) perspective of the creation of special economic zones, avoiding regular laws and regulations and in effect fracturing capitalist nations into ever smaller pieces that tailor to monied interests. There are good references to Moneyland by Oliver Bullough which shows how the well-off manage to exploit loopholes across the globe, which complements the story well.
However, it fails to really drive the point home and the final chapter feels sloppy and rushed. It does not build up to solid conclusions, recommendations or a point of view for the reader to consider. And that is a shame, because it is not a bad book in general.
Good as a supplemental read, but not as engaging as I had hoped.
However, it fails to really drive the point home and the final chapter feels sloppy and rushed. It does not build up to solid conclusions, recommendations or a point of view for the reader to consider. And that is a shame, because it is not a bad book in general.
Good as a supplemental read, but not as engaging as I had hoped.
January 23, 2024
A jeremiad, rather than a cogently presented political or economic argument, but there is truly much to lament and at least this is well sourced, encompassing publications well beyond the purview of this general reader. Unfortunately, the narrative is somewhat undercut by its poor organization and the cliche-ridden prose. Still, it was well worth the time.
August 30, 2024
Special commercial zones of neocolonialism. Dystopia writers wish they could write something so scary. Excellent book, but scary stuff.
November 5, 2023
I read this liberal-leaning book for a political science class in comparison to a libertarian-leaning one called “10% Less Democracy”. While both were interesting, I found myself more drawn to the values presented in Slabodian’s.
I really think that what a lot of libertarianism, but especially anarcho-capitalism, comes down to is valuing economic gain over every other aspect of life. It seems that as these two become more radicalized, they step further and further away from rationality and delve into a dangerous mindset of materializing absolutely every physical thing. Slabodian points this out in his book, and I think he’s right. This isn’t to say that I don’t think that a healthy economy is bad. However, when taken to the extreme, human rights and moral considerations take a backseat to making a profit, and I find this incredibly concerning.
I do think Slabodian could have framed his arguments better at times. At some points, he seems to highlight only the successes of special economic zones and tax havens, which puts his words in the book at odds with his ideology. That could be confusing at times, especially as he leaves most of his direct argument against anarcho-capitalism to the conclusion of the book. Overall, I do think that he provides more compelling evidence as to why these SEZ’s and others like them can be incredibly destructive to so many forms of life, human or otherwise.
I really think that what a lot of libertarianism, but especially anarcho-capitalism, comes down to is valuing economic gain over every other aspect of life. It seems that as these two become more radicalized, they step further and further away from rationality and delve into a dangerous mindset of materializing absolutely every physical thing. Slabodian points this out in his book, and I think he’s right. This isn’t to say that I don’t think that a healthy economy is bad. However, when taken to the extreme, human rights and moral considerations take a backseat to making a profit, and I find this incredibly concerning.
I do think Slabodian could have framed his arguments better at times. At some points, he seems to highlight only the successes of special economic zones and tax havens, which puts his words in the book at odds with his ideology. That could be confusing at times, especially as he leaves most of his direct argument against anarcho-capitalism to the conclusion of the book. Overall, I do think that he provides more compelling evidence as to why these SEZ’s and others like them can be incredibly destructive to so many forms of life, human or otherwise.
August 14, 2025
3,5/5 stars
The book looks in a very engaging way to the libertarian movement and for their desire to run away from the state( aka . not wanting to pay taxes, having to answer to democracy and having to deal with unions). It shows all kinds of different examples of places and methods that seemed to create the ideal utopias for them ( Hong Kong, Singapore, Lichtenstein,...) and how this worked in reality. Desiring freedom and independence of the state means in reality only economic freedom and otherwise they are more than willing to embrace government suppression.
While written very engangingly , I do think the book is at times all over the place and not every chapter seems necessary. A bigger criticism is that the author doesn't seem to understand the difference between libertarians and anarchists as he at times uses the terms without distinction. At best this is slopiness that causes confusion, at worst this is kinda incompetent. Anarchists and libertarians both dislike the state but otherwise belief in very different things. Emma Goldman and Murray Rothbard belief in very different things. Otherwise this was a fine book
The book looks in a very engaging way to the libertarian movement and for their desire to run away from the state( aka . not wanting to pay taxes, having to answer to democracy and having to deal with unions). It shows all kinds of different examples of places and methods that seemed to create the ideal utopias for them ( Hong Kong, Singapore, Lichtenstein,...) and how this worked in reality. Desiring freedom and independence of the state means in reality only economic freedom and otherwise they are more than willing to embrace government suppression.
While written very engangingly , I do think the book is at times all over the place and not every chapter seems necessary. A bigger criticism is that the author doesn't seem to understand the difference between libertarians and anarchists as he at times uses the terms without distinction. At best this is slopiness that causes confusion, at worst this is kinda incompetent. Anarchists and libertarians both dislike the state but otherwise belief in very different things. Emma Goldman and Murray Rothbard belief in very different things. Otherwise this was a fine book
February 9, 2025
An essential overview of how capitalism and libertarianism have found common cause with each other over the past three decades, with unnerving repercussions for all of us.
We should all take note that the history and founding ideals of much of the technology we use today are not rooted in democratic principles or majoritarian thought - most were instead brought into being by the “market radicals” Slobodian describes to help accelerate the delegitimization of the state.
The central irony that libertarian-assisted global capitalism cannot exist without the aforementioned state is explored brilliantly by Slobodian - but he falters in offering any kind of recourse or alternative ordering. But perhaps just naming the problem and getting people to pay attention to it is enough as a first step.
We should all take note that the history and founding ideals of much of the technology we use today are not rooted in democratic principles or majoritarian thought - most were instead brought into being by the “market radicals” Slobodian describes to help accelerate the delegitimization of the state.
The central irony that libertarian-assisted global capitalism cannot exist without the aforementioned state is explored brilliantly by Slobodian - but he falters in offering any kind of recourse or alternative ordering. But perhaps just naming the problem and getting people to pay attention to it is enough as a first step.
March 15, 2025
This book is an awesome introduction to special economic zones and the "anarcho-capitalists" pushing for their creation. It really helped me understand the relationship of libertarian thinkers to political economy and the production of space in the 21st century. Slobodian concludes that, while the anarcho-capitalists are keen on "cracking up" the world of nation-states into smaller, "free trade" zones, such crack-up methods have actually led to the strengthening of many states --- albeit while detethering them from democracy. It's looking increasingly likely that the most powerful states of the future will be authoritarian ones; democracy is in peril, and we must fight to keep it alive.
February 11, 2024
This book was interesting to read in light of just reading both de Tocqueville's Democracy in America and Andersen's Imagined Communities. I enjoyed listening to Slobodian's histories of the 'market radicals' such as Milton Friedman and their love for Hong Kong, I definitely understand more about how vicious Margaret Thatcher was, and I am interested to learn of the myriad means individuals have of consolidating wealth, escaping or undermining democratic institutions, and avoiding their duty to the common good. I do wish that Slobodian had attempted to determine how much of the market has been captured in this patchwork of extra-national spaces. The world he imagines is disquieting. But how significant? I cannot tell.
April 10, 2025
You hear people calling the right a death cult- I always wondered what future they envision in place of the state. It’s hard to see capital wanting to go in any other direction, there will always be somewhere desperate enough to try “the zone”- climate change will make sure of that.
One would think a more connected world would lead to more cohesive mass politics, but in some ways I think we are further from that than we have been in a long time. I can see a future where the US embraces SEZ’s across the south, you just know Amazon can’t WAIT to get ahold of one of these states.
One would think a more connected world would lead to more cohesive mass politics, but in some ways I think we are further from that than we have been in a long time. I can see a future where the US embraces SEZ’s across the south, you just know Amazon can’t WAIT to get ahold of one of these states.
April 14, 2025
En skremmende og svært godt skrevet bok om hvordan radikale markedsliberalister, godt hjulpet av autoritære nasjonalstater i en årrekke har etablert ulike økonomiske frisoner, i alle hjørner av verden.
I slike frisoner er innbyggerne kunder og ikke borgere. Skatter, avgifter og reguleringer eksisterer ikke. Demokratiske prinsipper må vike for anarkoliberalismens interesser og våte drømmer om en ny samfunnsorden. Boken leses nærmest som en fremtidsdystopisk roman, men realiteten er at dystopien allerede er her.
I slike frisoner er innbyggerne kunder og ikke borgere. Skatter, avgifter og reguleringer eksisterer ikke. Demokratiske prinsipper må vike for anarkoliberalismens interesser og våte drømmer om en ny samfunnsorden. Boken leses nærmest som en fremtidsdystopisk roman, men realiteten er at dystopien allerede er her.
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