Anarcho-Capitalism is a
libertarian political philosophy that evolved in the mid-twentieth century. It
advocates free market competition and proposes the elimination of the state.
Followers of this theory suggest that all public services including law and
security should be carried out by voluntarily-funded competitors, not by state
institutions financed through taxation. In this case all activities would be
determined by the natural laws of the market and controlled through private law
rather than through politics.