Anarcho-Capitalism (AnCap) is a radical ideology that pushes absolute individuality and completely free markets. This ideology is mostly focused on economic issues rather than social, as the social aspect of anarcho-capitalism based around one thing: Do what you want, as long as you do not violate the rights of others.
Some major figures that helped establish the ideology is Milton Friedman and Murray Rothbard. Both are economists, advocating for laissez faire markets; laissez faire meaning 'allow it to be' in French. The term was adopted by Jean-Baptiste Colbert. He is attributed to bringing back France's economy after nearly going bankrupt in the mid 1600s.
Things such as the police force, courts, and military would be completely privatized, meaning that it would be a business instead of a government controlling it. Anarcho-capitalism is pretty obviously a form of anarchism, so there would be no government controlling anything. The ideology is the purest form of capitalism, and private property is a very important tenet of capitalism. Of course, there is not anything stopping someone in a society that follows this ideology from stealing someone else's except for private courts, police etc., so most AnCaps follow the Non-Aggression Principle, or NAP.
The NAP is the only thing close to a moral code in this society, as it states the rights and wrongs of someone's actions. Though most AnCaps do not believe in things such as natural rights, they uphold the NAP as what someone should follow. So, what does the NAP state? For one, do not violate other's personal rights. That means things like violence, murder, stealing and 'initiation of force' onto another person. There are disputes on things such as abortion, intellectual property, intervention, non-humans, and the existence of a minimal state.
The basic economic ideology that Anarcho-Capitalism is the Austrian School of Economics. It is called Austrian because there were several different figures coming from the region of Austria that set up this school of thought. There are no regulations to any business or trade whatsoever, and no central bank, such as the federal reserve. Inflation basically non existent in this ideology, due to the lack of central banking. Taxation is seen as theft, as the state unwillfully takes money from citizens with the threat of imprisonment.
My Thoughts on Anarcho-Capitalism:
Though I am a big advocate for personal freedom, Anarcho-Capitalism is too extreme for me. I feel that the threat of imperialist countries would be too much for a private military, and the justice system would be flawed, or corrupt. The need for a state for protection, education, and justice is something that I feel is required for a functioning society. Plus, in theory, it sounds great, but people would take advantage of corruption and capital gain. Though capitalism is something I agree with, unrestricted capitalism would be harmful to the general population. I also feel that some climate issues would go completely unchecked, and humanity's survival would be at risk. Take Hong Kong for example, it has the most free economy in the world and also the worst air quality. Humanity's survival is more important to me than personal freedoms.