1. An idea misinterpreted by "punks" to mean chaos and a complete lack of structure in society.
2. A society with no government in which people work cooperatively to thrive. The ideal of communism. Theoretically, this is completely possible - as long as people in a society are not conditioned to crave power, everyone can work together at the same level in peace.
1. ANARCHY IS COOL!!! (probably knows nothing about the true meaning of anarchy...)
2. Anarchy, or something very close to it, exists in hunting-gathering societies. It cannot exist in today's advanced, industrial societies because people in these societies are conditioned to crave power and money. However, if we started things all over from the beginning and really tried to make a collective, anarchist system work, it could, in theory, last forever.