This is a political philosophy that advocates the abolition of the state in favour of the voluntary provision of essential services like defence and law by private companies in a free marketplace. Anarcho-capitalists believe that citizens would immensely benefit when these services are provided in a competitive marketplace than when the state holds a legal monopoly over the use of coercion. Belgian political economist Gustave de Molinari is often considered to be one of the first anarcho-capitalists in the modern world.