Anarcho Capitalism UPSC NOTE

 What is Anarcho-capitalism

  • Anarcho-capitalism refers to a political philosophy which calls for the abolition of the state and for the provision of law and order to be controlled by private companies in a free market. 

  • The term was coined by American libertarian economist Murray Rothbard, while Belgian political economist Gustave de Molinari is considered to be the first anarcho-capitalist

  • It has recently gained popularity with Javier Milei, who calls himself an anarcho-capitalist, winning the race to become the President of Argentina last month.

How does it work?

  • Traditionally, free market advocates have supported the private provision of most goods and services, except police and courts which, it was believed, could only be provided by the state.

  • But anarcho-capitalists believe that private companies competing in a free market can provide policing and legal services as well, often far better than the state when it comes to quality and price. 

  • Just the way private companies today can offer better cars, telephone services, etc

  • At cheaper prices than the government, anarcho-capitalists argue, private companies can also provide a far better police and legal system.

  • It should be noted that in an anarcho-capitalist society, people would be paying private police and courts to offer them protection against crime and to adjudicate disputes with others.

  • Anarcho-capitalists argue that private companies, which depend on customer patronage for their survival, would effectively serve the needs of their customers. 

  • This is in contrast to the current monopoly police and court system offered by the state that is funded using taxpayer money. 

  • Since citizens often need to pay taxes regardless of the quality of the policing and legal services offered by the state, the police and courts are not accountable to citizens. 

  • Further, the quality of these public services is often quite low while their cost is significantly high. 

  • In other words, competition would ensure that the quality of police and legal services is high and prices low.



Amritsar,1,Art & Culture,1,August 2023,251,Courses,7,Daily Current Affairs,48,December 2023,189,Disaster Management,2,Environment and Ecology,54,February 2024,188,Foundation Course,1,GDP,1,GEMS Club,1,GEMS Plus,1,Geography,67,Govt Schemes,2,GST,1,History,2,Home,3,IAS Booklist,1,Important News,71,Indian Economy,46,Indian History,2,Indian Polity,56,International Organisation,12,International Relations,58,Invasive Plant,1,January 2024,240,July 2023,281,June 2022,6,June 2023,268,May 2022,17,Mentorship,2,November 2023,169,October 2023,203,Places in News,2,Science & Technology,66,September 2023,205,UPSC CSE,111,
Learnerz IAS | Concept oriented UPSC Classes in Malayalam: Anarcho Capitalism UPSC NOTE
Anarcho Capitalism UPSC NOTE
Learnerz IAS | Concept oriented UPSC Classes in Malayalam
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy Table of Content