Anarcho-Capitalism Definition
Anarcho-Capitalism is a political philosophy and economic theory that advocates the removal of centralized states in favor of self-ownership, private property, and free markets. Anarcho-capitalists believe that in the absence of a state, society tends to contractually self-regulate and civilize through the discipline of the free market.
Anarcho-Capitalism Key Points
- A political philosophy advocating for the abolishment of centralized government.
- Basis of economic theory is self-ownership, private property, and free markets.
- Believes in societal self-regulation and civilization through free market discipline.
- Relates to blockchain and cryptocurrency as it advocates for decentralization and peer-to-peer transactions.
What is Anarcho-Capitalism?
The term Anarcho-Capitalism comes from combining ‘anarchy’ and ‘capitalism.’ This philosophy, originated from the writings of Murray Rothbard and other economists of the Austrian School, opposes the existence of the state and asserts that services such as enforcement of laws and contracts can be effectively provided by the private sector.
Why is Anarcho-Capitalism Significant?
Anarcho-capitalism is significant within the crypto and blockchain landscape as it supports decentralization, which is the foundational principle of these technologies. Cryptocurrency and blockchain are seen by anarcho-capitalists as tools that facilitate economic freedom and reduce the need for centralized control.
Where and When is Anarcho-Capitalism Applied?
Anarcho-capitalism is not applied in a particular location or time; rather, it is a philosophy which can influence individuals’ beliefs and interactions with social, economic, and political systems. Some crypto-enthusiasts employ the principles of anarcho-capitalism in their belief in decentralized, peer-to-peer transactions.
Who Advocates for Anarcho-Capitalism?
Anarcho-Capitalism is mainly advocated by libertarians, who pursue a society with no central authority, thereby promoting individual freedom. Crypto-enthusiasts who believe in the decentralization of financial systems and advocate for direct peer-to-peer interactions without intermediaries also lean towards anarcho-capitalist principles.
How is Anarcho-Capitalism Practiced?
Anarcho-capitalism is practiced whenever individuals avoid or bypass centralized authority in favor of self-governance and decentralized systems, such as blockchain technologies or cryptocurrency transactions. These parties adhere to the anarcho-capitalism principle by taking part in a system where rules and regulations are enforced via market mechanisms, and not by a central authority.
