Objectivist Criticisms of Anarcho-Capitalism
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Private protection/arbitration agencies would actually be better than the governments described in #5 (the US and Chinese government, respectively). Consider how things would be different if these governments were not extorting their citizens for money, but instead had to rely on a value proposition to earn their money – that is, if they both operated like private arbitration agencies. Then both would prefer to have shared rules around intellectual property so their customers continue to give them money.