Anarcho-capitalism

Political ideology and economic theory

Anarcho-capitalism (colloquially: Ancap) is a political ideology and economic theory that advocates the replacement of all government institutions with private corporations, along with the expansion of economic liberalism and a market economy through the promotion of a voluntary society. Proponents argue that a society could function without a centralized state through voluntary exchange and private institutions that provide legal and security services relegating coercion to the collection of tort damages, and refining recoupment in the context of a free and open marketplace. They contend that essential public services, including policing, courts, and defense can be effectively replaced by competing private defense agencies, subrogation markets, and insurance providers.

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