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Anarcho-capitalism is a political ideology and economic theory that advocates the abolition of state institutions and services and their replacement with private providers. Proponents argue that a society could function without a state through voluntary exchange and private institutions providing law and security. This model envisions a voluntary society, drawing on concepts such as the non-aggression principle, free markets, and self-ownership. In the absence of statutory law, private defence agencies and insurance companies would operate competitively, to provide services analogous to those performed by courts and the police under a state system.
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