![]() Rothbard views the power of the state as unjustified, arguing that it restricts individual rights and prosperity, and creates social and economic problems. This legal code would recognize contracts between individuals, private property, self-ownership and tort law in keeping with the non-aggression principle. Rothbard's anarcho-capitalist society would operate under a mutually agreed-upon "legal code which would be generally accepted, and which the courts would pledge themselves to follow". ![]() A leading figure in the 20th-century American libertarian movement, Rothbard synthesized elements from the Austrian School, classical liberalism and 19th-century American individualist anarchists and mutualists Lysander Spooner and Benjamin Tucker, while rejecting the labor theory of value. While the earliest extant attestation of "anarchocapitalism" is in Karl Hess's essay "The Death of Politics" published by Playboy in March 1969, American economist Murray Rothbard was credited with coining the terms anarcho-capitalist and anarcho-capitalism in 1971. In a theoretical anarcho-capitalist society, the system of private property would still exist and be enforced by private defense agencies and/or insurance companies selected by customers, which would operate competitively in a market and fulfill the roles of courts and the police.Īccording to its proponents, various historical theorists have espoused philosophies similar to anarcho-capitalism. In the absence of statute, anarcho-capitalists hold that society tends to contractually self-regulate and civilize through participation in the free market, which they describe as a voluntary society involving the voluntary exchange of goods and services. ![]() The black and gold flag, a symbol of anarchism (black) and capitalism (gold) which according to Murray Rothbard was first flown in 1963 in Colorado and is also used by the Swedish AnarkoKapitalistisk Front Īnarcho-capitalism (colloquially: ancap or an-cap) is an anti-statist, libertarian political philosophy and economic theory that seeks to abolish centralized states in favor of stateless societies with systems of private property enforced by private agencies, the non-aggression principle, free markets and self-ownership, which extends the concept to include control of private property as part of the self.
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