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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.


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Learnerz IAS | Concept oriented UPSC Classes in Malayalam: Anarcho Capitalism UPSC NOTE
Anarcho Capitalism UPSC NOTE
Learnerz IAS | Concept oriented UPSC Classes in Malayalam
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