Anarcho-capitalism is a libertarian design for a stateless society in which security, law, and dispute resolution would be provided primarily by for-profit companies. There are two reasons why researchers are interested in this form of social order: moral and economic. The moral argument is based on the claim that the state is an inherently unethical institution. Every state (including the minimal state) violates the rights of individuals because it claims a monopoly on the use of violence and sustains itself with money taken from citizens by force in the form of taxes.

The economic argument, in turn, points to the inefficiency of the state due to the state’s monopolistic position. Not being disciplined by the mechanism of profit and loss, the state not only inefficiently provides the goods that citizens desire, but also forces them to finance things they do not want at all (an example of this is US military action outside its borders). The lack of incentives resulting from the absence of competition is reinforced by the lack of a price system, which prevents consumers from effectively communicating their preferences. Therefore, anarcho-capitalists believe that the abolition of the state and its replacement with private institutions would not only be just, but would also allow for a more effective means of ensuring social order.

Proponents of anarcho-capitalism have presented a number of accounts of what exactly an anarcho-capitalist order would look like. Among the most important theorists dealing with this topic are Murray Rothbard, Linda and Morris Tannehill, David Friedman, and Hans-Hermann Hoppe. Their descriptions differ slightly (which is to be expected, as we do not know exactly which solutions would prove most effective), but we can identify the basic elements that appear in most libertarian designs for a stateless society. …

Although anarcho-capitalist theorists rely on sound economic theories, and researchers working within the tradition of analytical anarchism have presented many examples of how social order can emerge without the participation of the state, the proposal to completely abolish the state is still a highly controversial idea. It is therefore not surprising that the anarcho-capitalist project has been met with numerous criticisms. It is worth noting that many of these criticisms have been raised by libertarians or people who strongly believe in the effectiveness of the free market, which adds weight to these doubts, indicating that they are not merely the product of statist prejudices. Among the important critics of anarcho-capitalism are Ayn Rand, James Buchanan, Tyler Cowen, Daniel Sutter, and Randall Holcombe. Let us look at the nine most important objections that have been put forth against the feasibility of anarcho-capitalism: …

It appears that critics have presented compelling arguments that challenge the feasibility of anarcho-capitalism. However, its supporters have also not remained idle, attempting to refute all these doubts. This is one of the most important debates within libertarian philosophy. In the following articles, I will provide readers with a more comprehensive overview of the discussions surrounding individual doubts.