Anarcho-capitalism is a political and economic philosophy that combines the principles of anarchism and [[laissez-faire capitalism]]. It advocates for the complete elimination of government intervention in favor of a society based on voluntary interactions, [[free markets]], and private property rights. Anarcho-capitalists believe that a stateless society can best promote individual liberty, economic prosperity, and social harmony. ## Key tenets of anarcho-capitalism 1. **Self-ownership**: Anarcho-capitalists believe that individuals have the right to control their own bodies and lives, as long as they do not infringe on the rights of others. 2. **Private property rights**: Anarcho-capitalists maintain that individuals should have the right to own and control property, including land, resources, and the fruits of their labor. 3. **Free markets**: Anarcho-capitalists advocate for unregulated markets, where voluntary exchanges between individuals drive economic activity without government interference. 4. **Voluntaryism**: This principle emphasizes that all human interactions should be consensual and free from coercion, including the provision of goods and services. 5. **Non-aggression principle (NAP)**: Anarcho-capitalists adhere to the idea that aggression or force should not be used against others, except in self-defense. 6. **Decentralized and privatized institutions**: In an anarcho-capitalist society, functions traditionally performed by the government, such as law enforcement, defense, and infrastructure, would be provided by competing private enterprises. ## Criticism of anarcho-capitalism Critics of anarcho-capitalism argue that it could lead to wealth inequality, exploitation, and the emergence of monopolies or [oligarchies](https://doctorparadox.net/tag/oligarchy/). They also note that the absence of a central authority could result in instability, lawlessness, and the inability to address collective action problems, such as pollution and public goods provision. If free markets dominate decision-making, then only profit motive will determine outcomes. Yet numerous problems we face collectively and as a society do not have inherent profit motives attached to finding solutions -- nor does anarcho-capitalism sufficiently deal with the problems of [[moral hazard]] and perverse incentives. Who has the authority to determine if one person's actions are infringing upon the rights of others? In an anarcho-capitalist landscape, undoubtedly the wealthiest members of society would wield the most power to arbitrate disputes -- with overwhelming incentives to decide them in their own favor, without [oversight](https://doctorparadox.net/dictionaries/authoritarianism/oversight/) or countervailing forces to challenge decisions.