Anarcho-Capitalism Flashcards
(34 cards)
Define Monopoly.
The exclusive possession or control of the supply of or trade in a commodity or service; the absence of competition.
What is Homesteading?
A lifestyle of self-sufficiency, often characterised by subsistence agriculture.
When did Anarcho-Capitalism emerge as a modern ideology?
1970s.
What libertarianism is Anarcho-Capitalism linked to?
The libertarianism of Nozick.
What three traditions does Anarcho-Capitalism synthesize?
- 19th Century liberalism
- 19th Century American individualist anarchism
- Mid-20th Century Austrian school of economics
What is the view of Anarcho-Capitalists regarding taxation?
Taxation is considered institutionalised theft.
According to Anarcho-Capitalists, how are people viewed in economic terms?
People are fundamentally economic animals, ‘rational’ and self-interested.
What do Anarcho-Capitalists believe about state functions?
All functions of the state can be produced by the private sector.
How do Anarcho-Capitalists view the prevention of disorder?
Disorder is prevented because people have a rational interest in maintaining order.
What is a Private Defence Agency (PDA)?
A theoretical enterprise which would provide personal protection and military defence services to individuals who would pay for its services.
What is the contradiction in beliefs regarding national defense?
Most believe any monopoly is ‘bad’ for consumers yet think security must be undertaken by the state.
What motivates PDAs compared to state defense agencies?
PDAs believe their survival depends on quality of service leading to a wide customer base.
What do PDAs minimize in their operations?
Offensive tendencies and militarization in favor of a pure defense.
What principle do Anarcho-Capitalists subscribe to?
The non-aggression principle.
Define Aggression in the context of Anarcho-Capitalism.
Initiating or threatening any forceful interference against an individual, their property, or contracts.
What does the non-aggression principle not forbid?
Forceful defense.
What is the Austrian Economics’ key adherence?
Strict adherence to methodological individualism.
Name key figures in Austrian Economics.
- Menger
- von Mises
- von Hayek
- Rothbard
What is the subjective theory of value?
Things have value depending only on how much people value them.
Define Opportunity Cost.
The value or benefit given up by engaging in a specific activity, relative to an alternative activity.
What is the economic calculation problem?
Without price signals, factors of production cannot be allocated efficiently, rendering planned economies ineffective.
What does political individualism state?
Restrictions on economic freedom lead to an extension of the coercive activities of the state into the political domain.
Who is Murray Rothbard?
An American economist, political theorist, and activist; the most important name in anarcho-capitalism.
What did Rothbard believe about the private sector?
All services provided by the ‘monopoly system of the corporate state’ can be provided more efficiently by the private sector.
