Economics/Class Relations

The Case for Laissez-Faire Capitalism

Walter Block is much superior to most right-libertarians in that he recognizes that a stateless society would not necessarily be “capitalist” at all.

By Walter Block


Under laissez-faire capitalism, government is limited to armies, which keep foreign bad guys from attacking us; police, to quell local criminals; and courts, to determine guilt and innocence.

This is roughly the position of minimal-government libertarians, or minarchists. The foundation of law in this system is the non-aggression principle (NAP). The NAP provides that anyone may legally do anything he wishes, provided that he respects the sanctity of everyone else’s person and private property. There would indeed be rules and regulations: against murder, rape, trespass, etc.


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