Anarcho-capitalism 🤑 - key concepts

Individual freedom and free market capitalism

• State capitalism >:(((

  • Collusion between business and govt, reliant on coercion

• FMC :))))

  • Basis for free society

Rothbard - free market capitalism

“Peaceful voluntary exchange”

Views on today’s capitalism

• Predatory 

  • ‘Natural’ market incentives and disincentives are skewed and undermined by state intervention

    • State intervention therefore threatens economic freedom, efficiency and competition

Views on compulsory taxation

• Limits individual sovereignty and violates private property

Views on property

• Should be owned by sovereign individuals who can enter into voluntary contracts if they wish

Views on HN - ACA

• Autonomous

• Competitive

• Acquisitive

Rothbard - HN

“Every man has the right to his own body”

Views beyond free-market liberalism - public goods like order and protection

• Public goods (e.g. maintenance of order) can be satisfied by the market

  • Rothbard - humans will seek protection from each other but such protection can be delivered competitively by privately owned associations without need for police/state

Views beyond free-market liberalism - prices

• FMC will promote competition, therefore keeping prices low - forces suppliers to be efficient and respond to consumer supply

  • Can only be done by ‘invisible hand’ of demand and supply

‘Profit-making protection agencies’ in society (basically privatised police force)

• Offer better service than police - competition would provide consumers with choice to ensure agencies cheap/efficient/responsive

• Private courts required to develop reputation for fairness to attract people

• Contracts made with private agencies would be fully voluntary and only regulated by impersonal market forces