anarcho-capitalism

Noun

anarcho-capitalism (uncountable)

1. A political and economic philosophy that advocates the elimination of the state and other coercive institutions in favour of individual self-ownership, voluntary society, and free market.
   • Laissez-faire capitalism, or anarchocapitalism^([sic]), is simply the economic form of the libertarian ethic. Laissez-faire capitalism encompasses the notion that men should exchange goods and services, without regulation, solely on the basis of value for value. It recognizes charity and communal...1969 March, Karl Hess, “The Death of Politics”, in Playboy
   • Anarcho-capitalism is a creed new to the present age. Its closest historical links are with the “individualist anarchism” of Benjamin R. Tucker and Lysander Spooner of the late nineteenth century, and it shares with Tucker and Spooner a devotion to private property, individualism, and competition....1971, Murray Rothbard, “Know Your Rights”, in WIN: Peace and Freedom through Nonviolent Action, volume 7, number 4, pages 6–10
2. A political and socioeconomic system that ostensibly recognizes only individual self-ownership, voluntary society, and free market but not the state and other coercive institutions.
   • The second was shock therapy. Implemented briefly in the aftermath of the Soviet collapse, shock therapy aimed to construct a free market in post-communist Russia. It produced instead a species of mafia-dominated anarcho-capitalism.1998, John Gray, False Dawn: The Delusions of Global Capitalism, New York: The New Press, →ISBN, page 133