Theory that defends unlimited laissez-faire capitalism as the only morally justified regime. The main assumptions of this doctrine are twofold: the right of every individual to unlimited utilisation of his own person (self-ownership); and the right to unrestricted, or relatively mildly limited, appropriation of external resources. The first means that an individual has exclusive right to all the goods that are product of use of his talents and efforts. The second means that he has either the right to appropriate all natural resources which he finds and takes before others, or that such an appropriation is limited only by the fact that he must not put others in the position which is worse than the one in which they were before his acquisition of the resources. Furthermore, everything that an individual acquires with the help of his abilities, efforts, and use of thus appropriated resources, he can also freely exchange for the goods of others. If such a trade was voluntary, its results are just. This theory is interested only in this that the above procedures are satisfied and that nobody has used violence to take some goods from others. If things go that way, a distribution of resources is just regardless of its outcome, i.e. it is morally right no matter how much someone possesses at the end, and even if somebody does not have anything at all. Forceful intervention of the state for the sake of helping the poor is not allowed.

The main representatives of this position are:
F.A. Hayek, Jan Narveson, Robert Nozick