ancap

Anarcho-capitalism (colloquially: ANCAP, Ancap, AnCap, or An-Cap) is a political ideology and economic theory that advocates for the abolition of the public state and services, and promotes their replacement with private providers. Proponents argue that a society could function without a state through voluntary exchange and private institutions that provide legal and security services. This model envisions a voluntary society, drawing on concepts such as the non-aggression principle, free markets, and self-ownership. In the absence of statutory law, private defense agencies and insurance companies would compete to provide services analogous to those performed by courts and the police under a state system.
While the earliest documented use of the term anarcho-capitalism appears in Karl Hess's essay "The Death of Politics", published in Playboy in March 1969, the American economist Murray Rothbard is credited with developing and popularizing the concepts of anarcho-capitalists and anarcho-capitalism in the early 1970s.
Rothbard, an American libertarian, drew on elements of the Austrian school of economics, Ayn Rand's Objectivism, classical liberalism, and 19th-century American individualist anarchist thinkers Lysander Spooner and Benjamin Tucker. However, he rejected their labor theory of value, opposition to non-usufruct property, lack of support for constitutional law and private courts, their economic theories (especially support for mutual credit, land banking, opposition to usury, rent and wage system), views on justice system (such as support for jury nullification), and their opposition to absolute land ownership, including the right of landowners to set rules on their land.
Rothbard proposed that an anarcho-capitalist society would operate under a mutually agreed-upon legal code, which he suggested would be generally accepted and adhered to by courts. This legal code would recognize contracts between individuals, private property, self-ownership, and tort law in accordance with the non-aggression principle. Unlike a state system, enforcement in Rothbard's model would apply only to those who initiated force or fraud. Rothbard argued that state power is unjustified, asserting that it violates individual rights, reduces prosperity, and creates social and economic problems.
Proponents of anarcho-capitalism cite several historical precedents that they regard as examples of quasi-anarcho-capitalism, including the Republic of Cospaia, Acadia, Anglo-Saxon England, Medieval Iceland, the American Old West, Gaelic Ireland, as well as systems such as merchant law, admiralty law, and early common law.

Anarcho-capitalism is distinguished from minarchism, which advocates for a minimal state (often described as a night-watchman state limited to protecting individuals from aggression and enforcing private property); from Objectivism, a broader philosophy advocating a somewhat limited role for government; and from market anarchism, which opposes capitalism and the state while viewing markets as compatible with socialism.

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