Forms of political thought are currents of thought that are a collection of social, economic and demographic views on how societies, states and various governing mechanisms should be. In order to understand anarcho-capitalism, one must first know a little about "capitalism".
What Is Capitalism?
To put capitalism simply and in its dictionary meaning, it is an economic system based on the private ownership of the means of production and the operation of these means for the purpose of making profit. Capitalism, which we can also consider as a free market economy, emerged in the 16th century. The elements at the center of capitalism are as follows:
- Capital accumulation
- Private property
- Price system
- Voluntary exchange
- Paid labor
- Competitive markets
The capitalist economy became increasingly institutionalized between the 16th and 19th centuries. Even earlier, early forms of capitalism, such as early forms of merchant capitalism, were found. Since the end of feudalism, capitalism has become the dominant economic system in the western world. It spread from Europe to the rest of the world, centered in England.
Capitalism is driven by profit. The producer does not sell the goods at a price equal to their cost. He sells it at a profit and a surplus value is created.
How Did Anarcho-Capitalism Emerge?
Anarcho-capitalism, which is one of the forms of political ideology, has been shaped by the ideas and views of some market theorists. These market theorists include:
- Frederic Bastiat
- Robert Nozick
- Benjamin Ricketson Tucker
- Lysander Spooner
- Murray Rothbard
Anarcho-capitalism is also characterized as a type of individualist anarchism. However, unlike the individualist anarchism in the line of Benjamin Ricketson and Tucker Lysander Spooner, anarcho-capitalism does not accept the labor theory of value and its normative applications.
The term anarcho-capitalism was first used by Murray Rothbard. Anarcho-capitalism sees private property as legitimate under certain conditions. These conditions can be listed as follows: if it is a product of labor, obtained after commercial activity, or given as a gift. In this school of thought, the task of maintaining order in society is undertaken by institutions that operate on a voluntary basis, such as profit-based competitive companies or charitable organizations, instead of the state.
What Are the Features of Anarcho-Capitalism?
Some features of the anarcho-capitalism movement stand out. These prominent features are the following:
- State Disengagement
- Free Market
- Individual Rights
- Privatization
- Contracts
What Is State Disengagement?
Anarcho-capitalism aims to abolish all government structures and centralized authorities. The activities of government and authorities are carried out by private sector firms.
What Is Free Market?
According to anarcho-capitalism, all economic activity should be completely free. In this way, the prices of all goods and products would be determined in a completely free market. Anarcho-capitalism advocates this economic system.
What Are Individual Rights?
Anarcho-capitalism prioritizes the protection of individual rights. State interference in all these rights is eliminated. Individuals can obtain the right to bear arms in defense of their rights, freedoms and property.
What Is Privatization?
Anarcho-capitalism says that all public assets and services should be privatized. By privatizing all public services, private firms can compete among themselves. These private firms can then provide better quality and more efficient services.
What Are Contracts?
According to anarcho-capitalism, contracts between individuals should be legally binding. Thus, in a contract between individuals, the party who violates the terms should be punished.
What Are the Symbols of Anarcho-Capitalism?
Most political ideas have a set of symbols used to represent them. Common symbols of anarcho-capitalism are:
What Is Yellow and Black Flag?
In general, the main symbol of anarcho-capitalism is the yellow and black flag. Yellow is used as one of the colors for political purposes by liberals and right-wing libertarians to represent the free market and individualism. The black color is combined with yellow to represent anarchism. This symbol is widely used.
What Is Ama-gi?
Ama-gi is an ancient Sumerian cuneiform word. Ama-gi means freedom and independence. It is also thought to be the first human writing with this meaning. For this reason it is sometimes used as a symbol by anarcho-capitalists.
What Is Libertatis Æquilibritas?
The concept of Libertatis Æquilibritas means "Balance of Freedom" in Latin. It is widely used by some anarcho-capitalists. It is a combination of the dollar and the yin/yang symbol.
What Do Anarcho-Capitalists Aim for?
Anarcho-capitalists aim to maximize individual freedom. Anarcho-capitalism advocates the abolition of the state. It supports the financing of law enforcement, courts, national defense and all other security services by volunteers on the free market, instead of compulsory taxation. This would ensure the complete liberalization of personal and economic activities without any interference.
Anarcho-capitalists see free market capitalism as the very foundation of a free society. Murray Rothbard, one of the pioneers of the concept, coined anarcho-capitalism to distinguish it from anarchism, which opposes private property. Rothbard defined free market capitalism as "peaceful voluntary exchange" as opposed to "state capitalism", which he described as a secretive partnership between business and governments that uses coercion to subvert the free market.
What Is the Connection Between Anarcho-Capitalism and Cryptocurrencies?
Anarcho-capitalism has an important place in cryptocurrencies, as in any situation where decentralization is based. The fact that cryptocurrencies are decentralized and cannot be intervened by authorities such as the state is an indication that they have a connection with anarcho-capitalism. Anarcho-capitalists argue that decentralized services such as cryptocurrencies and blockchain technology can provide an alternative to all bureaucratic functions of the state.
