Anarcho-capitalism is an anti-statist, libertarian political philosophy and economic theory that seeks to abolish centralized states in favor of stateless societies with systems of private property enforced by private agencies, the non-aggression principle, free markets and self-ownership, which extends the concept to include control of private property as part of the self. In the absence of statute, anarcho-capitalists hold that society tends to contractually self-regulate and civilize through participation in the free market, which they describe as a voluntary society involving the voluntary exchange of goods and services. In a theoretical anarcho-capitalist society, the system of private property would still exist and be enforced by private defense agencies and/or insurance companies selected by customers, which would operate competitively in a market and fulfill the roles of courts and the police.
Murray Newton Rothbard was an American economist of the Austrian School, economic historian, political theorist, and activist. Rothbard was a central figure in the 20th-century American libertarian movement, particularly its right-wing strands, and was a founder and leading theoretician of anarcho-capitalism. He wrote over twenty books on political theory, history, economics, and other subjects.
The libertarian perspective on immigration is often regarded as one of the core concepts of libertarian theory and philosophy. There is considerable disagreement among libertarians as to what stance towards immigration best accords with libertarian principles. Some hold that restrictions on immigration are an infringement of the rights of immigrants and other property owners and constitute a threat to individual liberty. Others maintain that open borders amount to a policy of forced integration on the part of the state, and that protecting the rights of property holders requires that present governments adopt much more discriminatory policies on who is allowed to enter a country.
Libertarians promote individual liberty and seek to minimize the role of the state. The abortion debate is mainly within right-libertarianism between cultural liberals and social conservatives as left-libertarians generally see it as a settled issue regarding individual rights, as they support legal access to abortion as part of what they consider to be a woman's right to control her body and its functions. Religious right and intellectual conservatives have attacked such libertarians for supporting abortion rights, especially after the demise of the Soviet Union led to a greater divide in the conservative movement between libertarians and social conservatives. Libertarian conservatives claim libertarian principles such as the non-aggression principle (NAP) apply to human beings from conception and that the universal right to life applies to fetuses in the womb. Thus, some of those individuals express opposition to legal abortion. According to a 2013 survey, 5.7/10 of American Libertarians oppose making it more difficult for a woman to get an abortion.
Voluntaryism is used to describe the philosophy of Auberon Herbert, and later that of the authors and supporters of The Voluntaryist magazine, which, similarly to anarcho-capitalism, rejects the state in favor of voluntary participation in society, meaning a lack of coercion and force. This is normally completed through a strict adherence to pacifism, civil rights, and either arbitration or some other mutually-agreed-upon court system between individuals.
Some philosophers distinguish two types of rights, natural rights and legal rights.
Self-ownership is the concept of property in one's own body, expressed as the moral or natural right of a person to have bodily integrity. It states that the individual should be the exclusive controller of their own body and life, where 'control' means exerting any physical influence and 'exclusive' means having the right to install and enforce a ban on other people doing this. Since the legal norm of property title claim incapacitates other people from claiming property title over the same resource at the same time, the right to control or interfere with one's own body in any arbitrary way is secured. Libertarians usually bundle self-ownership with self-sovereignty as a concept. Self-ownership is a central idea in several political philosophies that emphasize individualism, such as libertarianism, liberalism, and anarchism.
Ayn Rand's philosophy of Objectivism has been, and continues to be, a major influence on the right-libertarian movement, particularly libertarianism in the United States. Many right-libertarians justify their political views using aspects of Objectivism.
Criticism of libertarianism includes ethical, economic, environmental and pragmatic concerns. With right-libertarianism, critics have argued that laissez-faire capitalism does not necessarily produce the best or most efficient outcome, and that libertarianism's philosophy of individualism and policies of deregulation fail to prevent the abuse of natural resources. Criticism of left-libertarianism is instead mainly related to anarchism. Left and right-libertarians also engage in criticism of each other.
The non-aggression principle (NAP), also known as the non-aggression axiom, deals with the initiation or threatening of force against an individual, their property, or agreements (contracts) where the aggressor is liable and the individual is a counterparty. Interpretations of the NAP vary, particularly concerning issues like intellectual property, force, and abortion.
Left-libertarianism, also known as left-wing libertarianism, or social libertarianism, is a political philosophy and type of libertarianism that stresses both individual freedom and social equality. Left-libertarianism represents several related yet distinct approaches to political and social theory. Its classical usage refers to anti-authoritarian varieties of left-wing politics such as anarchism, especially social anarchism, communalism, and libertarian Marxism, collectively termed libertarian socialism. A portion of the left wing of the green movement, including adherents of Murray Bookchin's social ecology, are also generally considered left-libertarian.
Propertarianism, or proprietarianism, is a political philosophy that reduces all questions of ethics to the right to own property. On property rights, it advocates private property based on Lockean sticky property norms, where an owner keeps their property more or less until they consent to gift or sell it, rejecting the Lockean proviso.
Libertarianism is a political philosophy that upholds liberty as a core value. Libertarians seek to maximize autonomy and political freedom, and minimize the state's encroachment on and violations of individual liberties; emphasizing the rule of law, pluralism, cosmopolitanism, cooperation, civil and political rights, bodily autonomy, freedom of association, free trade, freedom of expression, freedom of choice, freedom of movement, individualism, and voluntary association. Libertarians are often skeptical of or opposed to authority, state power, warfare, militarism and nationalism, but some libertarians diverge on the scope of their opposition to existing economic and political systems. Various schools of libertarian thought offer a range of views regarding the legitimate functions of state and private power. Different categorizations have been used to distinguish various forms of Libertarianism. Scholars distinguish libertarian views on the nature of property and capital, usually along left–right or socialist–capitalist lines. Libertarians of various schools were influenced by liberal ideas.
In the United States, libertarianism is a political philosophy promoting individual liberty. According to common meanings of conservatism and liberalism in the United States, libertarianism has been described as conservative on economic issues and liberal on personal freedom, often associated with a foreign policy of non-interventionism. Broadly, there are four principal traditions within libertarianism, namely the libertarianism that developed in the mid-20th century out of the revival tradition of classical liberalism in the United States after liberalism associated with the New Deal; the libertarianism developed in the 1950s by anarcho-capitalist author Murray Rothbard, who based it on the anti-New Deal Old Right and 19th-century libertarianism and American individualist anarchists such as Benjamin Tucker and Lysander Spooner while rejecting the labor theory of value in favor of Austrian School economics and the subjective theory of value; the libertarianism developed in the 1970s by Robert Nozick and founded in American and European classical liberal traditions; and the libertarianism associated with the Libertarian Party, which was founded in 1971, including politicians such as David Nolan and Ron Paul.
Right-libertarianism, also known as libertarian capitalism or right-wing libertarianism, is a libertarian political philosophy that supports capitalist property rights and defends market distribution of natural resources and private property. The term right-libertarianism is used to distinguish this class of views on the nature of property and capital from left-libertarianism, a type of libertarianism that combines self-ownership with an egalitarian approach to natural resources. In contrast to socialist libertarianism, right-libertarianism supports free-market capitalism. Like most forms of libertarianism, it supports civil liberties, especially natural law, negative rights, the non-aggression principle, and a major reversal of the modern welfare state.
For a New Liberty: The Libertarian Manifesto is a book by American economist and historian Murray Rothbard, in which the author promotes anarcho-capitalism. The work has been credited as an influence on modern libertarian thought and on part of the New Right.
Libertarianism is variously defined by sources as there is no general consensus among scholars on the definition nor on how one should use the term as a historical category. Scholars generally agree that libertarianism refers to the group of political philosophies which emphasize freedom, individual liberty and voluntary association. Libertarians generally advocate a society with little or no government power.
Consequentialist libertarianism, also known as consequentialist liberalism or libertarian consequentialism, is a libertarian political philosophy and position that is supportive of a free market and strong private property rights only on the grounds that they bring about favorable consequences such as prosperity or efficiency.
The position that taxation is theft, and therefore immoral, is found in a number of political philosophies. It marks a significant departure from conservatism and classical liberalism and therefore, has been considered radical. This position is often held by anarcho-capitalists, objectivists, most minarchists, anarchists, right-wing libertarians, and voluntaryists.
The following outline is provided as an overview of and topical guide to libertarianism:
