An economic system based on private, rather than state, ownership of businesses, factories, transport services, etc, with free competition and profit-making.
Largely due to the path breaking work of Murray Rothbard, 20th century individualist anarchism is no longer inherently suspicious of profit-making practices, such as charging interest. Indeed, it embraces the free market as the voluntary vehicle of economic exchange. But as individualist anarchism draws increasingly upon the work of Austrian economists such as Mises and Hayek, it draws increasingly farther away from left anarchism.
Create and save customized flash cards. Sign up today and start improving your vocabulary!