Milton Friedman's grandson makes waves with 'seasteading' plan

London, June 4 (ANI): Milton Friedman's grandson Patri has a vision that might have made the economist proud- building a floating libertarian nation a dozen miles off the coast of California.

Despite the widespread skepticism that the project is bound to invite, Friedman has already secured over two million dollars in venture capital for the development of a nation flotilla, CBS News reports.

Friedman, a former Google engineer, now working for the "seasteading" movement aims to complete the project by 2040.

Friedman hopes to foster conditions for startup governments to thrive which are "consumer-oriented" and "constantly competing for citizens."

A couple of years ago, in an interview, he sketched out the idea of seasteading. He explained how a short-term work-around would be to buy a ship registration in the same way that most merchant ships do. Questions of sovereignty and secession would come later, he said.

"Innovation in society and serving marginalized groups has always happened on the frontier," Friedman said.

"We don't have a frontier anymore. The reason our political system doesn't innovate anymore is that there's no place to try out new things. We want to provide that place," he added. (ANI)