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Does Capitalism Fail To Price In Negative Externality?

Johan Norberg is a prolific author and academic, he’s one of the most notable members of the Cato Institute and as well someone who has recently bronzed in the blinding spotlight of both Javier Milei and Elon Musk. 

Johan is a staunch defender of globalisation and author of‘ The Capitalist Manifesto’ which was boosted into the stratosphere earlier this year with an overwhelming endorsement by Elon Musk when he wrote that the book is an excellent explanation of why capitalism is not just successful, but morally right. 

Johan is an extremely interesting figure.

We open with Johan reflecting on those very authors who shaped his own worldview, the people who painted a picture of the world that he could map onto and how now, Johan serves as that figure to others. We then get into the proximity effect of Elon Musk, and also unintentionally into how Johan draws comparisons of AI to other disruptive technologies throughout history and how the market has adapted each time in response to this problem.

Then we get to the two main questions I wanted ask Johan from the start, those being, around the negative consequences of globalisation, and whether it is really the case that a global free market can solve for these problems, where isolated countries legislations don’t actually solve the negative externality, but merely push it elsewhere. 

#183 with Johan Norberg on Apple

#183 with Johan Norberg on Spotify

#183 with Johan Norberg on Youtube (finally a decent production level - watch this one)

The Capitalist Manifesto

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