Patri Friedman takes down that theory:
In the article â€œCoercion vs. Consent”, in this months Reason Magazine, Richard Epstein says the following about anarcho-capitalism: â€œA large society with no central authority offers an open invitation to some sleazy individual to consolidate power in his own name.â€
A large society with a democratic central authority, on the other hand, offers a literally open invitation every election for sleazy, power-hungry individuals to take the reins of an already-consolidated power base. Ostensibly in our names, practically in their own. The flaw he suggests in ancap is simply it reverting to what we already have. While consolidation of power by sleazy individuals is definitely a problem, government, far from being a solution, is the quintessential manifestation of this phenomenon.
Q: “But what if some gang gets all the guns and takes over???”
A: “Dude, they already have.”