Over at Liberty Nation, I debate fellow author Onar Am about the practicality of anarcho-capitalism, a branch of libertarianism that advocates abolishing the state in favor of a capitalist society.
Here is an excerpt:
Andrew Moran: The libertarian movement contains various schools of thought: monarchism, voluntaryism, paleolibertarianism, and deontological libertarianism. But there is no other branch of libertarianism that is as controversial and widely debated as anarcho-capitalism (AnCap).
The concept, which was first coined by economist Murray Rothbard in the mid-20th century, proposes abolishing a centralized state, or the government in general, and substitute it with free markets and private property. Ultimately, AnCap embraces the universal non-aggression principle (NAP).
Under an AnCap society, there wouldn’t be a government that provides roads, courts, fire departments, police forces, or even the military. These are services that would be provided for by the free-enterprise system. Rather than rely on the local authorities to protect your home from unscrupulous individuals, you can hire a business that ensures your home is well secured. Or, instead of depending on civil servants to construct and maintain roads, a private company can do it – either hired to perform this task or a company will pave the asphalt to attract customers to its store.
You can read more here.