Q. Which one of the following statements best describes the term ‘Anarcho-Capitalism’, seen in the news recently?

[A] It is an ideology advocating for strong centralized authority and strict obedience to the government.

[B] It emphasizes individualism, rational self-interest, and laissez-faire capitalism.

[C] It advocates for the elimination of government intervention in economic and social affairs, promoting a society based on voluntary exchanges and free markets.

[D] It is an economic ideology where the means of production are commonly owned, and there is no private ownership.

Answer: C
Notes:

Explanation – Anarcho-capitalism is a political philosophy that advocates for a society without a centralized state or government, where voluntary exchanges and free markets govern economic and social interactions. It’s often associated with individualism and libertarianism. It basically argues that the free market can provide all the goods and services needed for society to function without the need for a government.

Source: Forum IAS

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