The biggest problem is inept, incompetent, dysfunctional government. It’s the least innovative industry in the entire world and the result of that is mass poverty.
Patri Friedman and Brad Taylor have published an academic paper making the case for seasteading from a public choice perspective. Patri presented a working version of it via video to the Australasian Public Choice Conference held in New Zealand.
The paper can be read here. Feedback is much appreciated!
Here’s the abstract: