Anarcho-capitalism is a political philosophy that advocates the elimination of centralized states in favor of a system of private property enforced by private agencies, free markets and the right-libertarian interpretation of 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. 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 and political theorist. Rothbard was a founder and leading theoretician of anarcho-capitalism and a central figure in the 20th-century American libertarian movement. He wrote over twenty books on political theory, history, economics, and other subjects.
Libertarians have differing opinions on the validity of intellectual property.
Hans-Hermann Hoppe is a German-American paleolibertarian and anarcho-capitalist political theorist. He is Professor Emeritus of Economics at the University of Nevada, Las Vegas (UNLV), Senior Fellow of the Ludwig von Mises Institute, and the founder and president of the Property and Freedom Society.
A mortgage is a legal instrument which is used to create a security interest in real property held by a lender as a security for a debt, usually a loan of money. A mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower.
Libertarian theories of law build upon classical liberal and individualist doctrines.
Randy Evan Barnett is an American legal scholar and lawyer. He serves as the Patrick Hotung Professor of Constitutional Law at Georgetown University, where he teaches constitutional law and contracts, and is the director of the Georgetown Center for the Constitution. After graduating from Northwestern University and Harvard Law School, he tried many felony cases as a prosecutor in the Cook County States’ Attorney's Office in Chicago. A recipient of a Guggenheim Fellowship in Constitutional Studies and the Bradley Prize, Barnett has been a visiting professor at Penn, Northwestern and Harvard Law School.
Natural rights and legal rights are two types of rights.
Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan.
A bill of sale is a document that transfers ownership of goods from one person to another. It is used in situations where the former owner transfers possession of the goods to a new owner. Bills of sale may be used in a wide variety of transactions: people can sell their goods, exchange them, give them as gifts or mortgage them to get a loan. They can only be used:
The non-aggression principle (NAP), also called the non-aggression axiom, is a concept in which aggression, defined as initiating or threatening any forceful interference against either an individual, their property or against promises (contracts) for which aggressor is liable and in which individual is a counterparty, is inherently wrong. There is no single or universal interpretation or definition of the NAP as it faces several definitional issues, including those revolving around intellectual property, force, abortion, and other topics.
Norman Stephan Kinsella is an American intellectual property lawyer, author, and deontological anarcho-capitalist. His legal works have been published by Oxford University Press, Oceana Publications, Mises Institute, Quid Pro Books and others.
In finance, a security interest is a legal right granted by a debtor to a creditor over the debtor's property which enables the creditor to have recourse to the property if the debtor defaults in making payment or otherwise performing the secured obligations. One of the most common examples of a security interest is a mortgage: a person borrows money from the bank to buy a house, and they grant a mortgage over the house so that if they default in repaying the loan, the bank can sell the house and apply the proceeds to the outstanding loan.
Right-libertarianism, also known as libertarian capitalism or right-wing libertarianism, is a political philosophy and type of libertarianism 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, and a major reversal of the modern welfare state.
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.
Walter Edward Block is an American Austrian School economist and anarcho-capitalist theorist. He currently holds the Harold E. Wirth Eminent Scholar Endowed Chair in Economics at the School of Business at Loyola University New Orleans, and is a senior fellow of the non-profit think-tank Ludwig von Mises Institute in Auburn, Alabama. He is best known for his 1976 book Defending the Undefendable, which takes contrarian positions in defending acts which are illegal or disreputable but Block argues are actually victimless crimes or benefit the public.
Libertarian Christianity is a designation that encompasses a variety of people, ideologies, philosophies, etc., the commonality of which is that each of these claims some commitment to both libertarianism and Christianity. Libertarianism and Christianity, as societal entities, are each composed of a variety of factions, each of which claims some distinguishing features that make such faction more libertarian, or more Christian, than other factions operating under the same libertarian or Christian banner. Libertarian Christians are yet another faction within each of these two internally diverse superstructures. What makes libertarian Christianity unique is that people who claim to be libertarian Christians are people who either implicitly or explicitly claim to have found some kind of ideological bridge that makes libertarianism and Christianity compatible. Whether people who claim to be libertarian Christians have discovered an ideological bridge that is genuinely faithful to the fundamental tenets of both libertarianism and Christianity is inevitably a question whose answer determines whether the libertarian Christian's bridge is ideologically sound or is based on pure presumption and wishful thinking.
The position that taxation is theft, and therefore immoral, is found in a number of political philosophies considered radical. It marks a significant departure from conservatism and classical liberalism. This position is often held by anarcho-capitalists, objectivists, most minarchists, right-wing libertarians, and voluntaryists.
Voluntary slavery, in theory, is the condition of slavery entered into at a point of voluntary consent. It is distinguished from involuntary slavery where an individual is forced to a period of servitude usually as punishment for a crime. In practice, however, the term is often a euphemism used to hide conditions of slavery which are, in fact, less than completely voluntary.
Financial law is the law and regulation of the insurance, derivatives, commercial banking, capital markets and investment management sectors. Understanding Financial law is crucial to appreciating the creation and formation of banking and financial regulation, as well as the legal framework for finance generally. Financial law forms a substantial portion of commercial law, and notably a substantial proportion of the global economy, and legal billables are dependent on sound and clear legal policy pertaining to financial transactions. Therefore financial law as the law for financial industries involves public and private law matters. Understanding the legal implications of transactions and structures such as an indemnity, or overdraft is crucial to appreciating their effect in financial transactions. This is the core of Financial law. Thus, Financial law draws a narrower distinction than commercial or corporate law by focusing primarily on financial transactions, the financial market, and its participants; for example, the sale of goods may be part of commercial law but is not financial law. Financial law may be understood as being formed of three overarching methods, or pillars of law formation and categorised into five transaction silos which form the various financial positions prevalent in finance.
