Knowra Anarcho-capitalism Anarcho-capitalism Anarcho-capitalism is a political philosophy advocating the abolition of the state and the provision of security, law, and other services through voluntary exchange and private institutions.
Private property : Private property is a system of rights allowing individuals or organizations to possess, use, and transfer resources. Anarcho-capitalists treat property rights as the basis for voluntary exchange and nonstate social order.
Polycentric law : Polycentric law is a system in which multiple overlapping legal authorities and dispute-resolution providers operate in the same society. It describes how anarcho-capitalists envision legal order without a single state legislature or court system.
Gustave de Molinari : Gustave de Molinari was a Belgian economist who argued in 1849 that security could be supplied competitively by private firms. His essay on security is an early explicit case for replacing the state with competing providers.
Minarchism : Minarchism is the view that government should be reduced to a minimal state, typically responsible for courts, police, and defense. Unlike anarcho-capitalists, minarchists regard a narrowly limited state as necessary or legitimate.
Public goods : Public goods are goods that are non-excludable and non-rivalrous, making it difficult to prevent free-riding on their provision. Defense and other proposed services raise questions about funding and access without taxation.
Non-aggression principle : The non-aggression principle holds that initiating force against another person or their property is impermissible. It supplies a moral limit on coercion, including coercion exercised by governments.
Private defense agency : A private defense agency is a nonstate organization that sells protection against violence or property crime. Such agencies are proposed as alternatives to publicly funded police and military forces.
Murray Rothbard : Murray Rothbard was an American economist and political theorist who developed a modern anarcho-capitalist philosophy. He joined natural-rights arguments to a program of privately provided law and defense.
Anarcho-communism : Anarcho-communism is an anarchist tradition advocating stateless society, communal ownership, and distribution according to need. It rejects both the state and the private-property order anarcho-capitalists defend.
Market failure : Market failure occurs when decentralized exchange does not allocate resources efficiently under specified economic criteria. Critics ask whether private providers can address externalities, monopoly, and unequal bargaining power.
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