Changes

'''Anarcho-capitalism''' is the belief that the [[free market|marketplace]] can be used to replace the functions of [[government]] and that [[capitalism]] without laws and regulations is the key to an effective economy. The idea is that supply, demand and competition would keep corporations from acting unethically or harming others.

'''Anarcho-capitalism''' is the belief that the [[free market|marketplace]] can be used to replace the functions of [[government]] and that [[capitalism]] without a [[government|territorial monopoly of ultimate decision-making]] is both economically more efficient and morally superior. The idea is that supply, demand and competition would keep corporations from acting unethically or harming others.

Critics believe that state intervention is needed to prevent [[monopoly]].

Critics believe that state intervention is needed to prevent [[monopoly]]. In response, anarcho-capitalists such as Murray Rothbard argue that monopolies are defined by state intervention and cannot arise on the free market<ref>http://mises.org/rothbard/mespm.PDF</ref>. Others, like Hans Hoppe, add that the State itself is a monopoly over final arbitration and taxation power.

[[category:Politics]]

[[category:Politics]]