Crack-Up Capitalism

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In a revelatory dispatch from the frontier of capitalist extremism, an acclaimed historian explores how free marketeers are pursuing their ultimate goal: the dissolution of nation-states and the constraints of democracy. The world map, often seen as a colorful checkerboard of nation-states, belies the true centers of power that have emerged. Over the past decade, globalization has fragmented this map into various legal spaces such as free ports, tax havens, and special economic zones. In these new environments, ultracapitalists believe they can escape the oversight of democratic governance. The narrative follows radical libertarians—from Milton Friedman to Peter Thiel—on their global quest for the ideal capitalist space. The journey spans locations from 1970s Hong Kong to apartheid-era South Africa, the neo-Confederate South, the American West, medieval London, and the vaults of right-wing billionaires, ultimately reaching the world's oceans and war zones. This masterful work of economic and intellectual history presents a fresh perspective on global dynamics and highlights emerging threats. Rich in detail and provocative analysis, it offers a concerning glimpse into a potential future shaped by unchecked market competition.