This new Libertarian City-State, inspired by New York University economist Paul Romer, has the backing of the libertarian-minded government in Tegucigalpa. It has also received plaudits from noted economists, pundits, and policymakers across the globe since it emerged nearly two years ago. Many of these wonks see the proposal as a real-world test of a set of economic principles that have been floating around academia since the 1980s. The thrust is simple: the most powerful tools for sparking growth and busting poverty are not just jobs and financial capital but a suite of intangible assets like fair government, reliable rules, and independent courts, plus something even bolder—allowing workers and investors maximum freedom to join or quit a market.

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