What is Anarcho Capitalism? And What's So Good About it?

What Then Must We Do?

When newly elected President of Argentina Javier Milei described his anarcho-capitalist position, he referenced economist Bob Murphy's Chaos Theory. So I asked Bob to come on the show and explain to everyone what anarcho capitalism IS.
We cover a lot of ground in this one, discussing how a society could operate with privatized justice, law enforcement, and even defense, and taking on all of the usual objections, from the control of nuclear weaponry to preventing new states from arising. Bob even answers the age-old question: Why should anarcho capitalists move to Somalia?
Prepare to have your perceptions of governance and societal organization challenged.
Bob Murphy is a renowned Austrian economist. His podcast is The Bob Murphy Show, and he is on Twitter. His essays on anarcho-capitalist principles, "Chaos Theory", can be found here and here.
He also speaks about anarcho capitalism here and here.
Hayek's "Law, Legislation, and Liberty" is here.
And the article by Benjamin Powell, "Somalia After State Collapse: Chaos or Improvement?" can be found here.

Chapters

1. What is Anarcho Capitalism? And What's So Good About it? (00:00:00)

2. Anarcho-Capitalism and Private Defense (00:00:04)

3. Defense Funding and Private Law (00:11:58)

4. The Evolution of Law and Language (00:23:54)

5. The Flaws of a Monopoly System (00:36:24)

6. Private Property in an Ancap World (00:49:20)

7. Discussion on Justice and Morality (00:57:46)

8. Rule of Law and Governance Debate (01:05:13)

9. Privacy and Competition in Society (01:09:32)

10. Legal System Issues and Nuclear Weapons Control (01:16:38)

11. Comparing Anarchy With Government Influence (01:26:21)

12. Emergence of States and Limited Government (01:32:20)

13. Dollarization Plan and Mafia Influence (01:39:01)