Libertarianism

Libertarianism (Latin: liber, "free") is a collection of political philosophies that uphold liberty as a core principle. Libertarians seek to maximize political freedom and autonomy, emphasizing the values of freedom of choice, voluntary association, self-ownership, and the rule of law.

Libertarians share a skepticism of authority and maintain that the power of the state has to be limited or eliminated in order to protect individuals from the arbitrary exercise of authority. However, they diverge on the scope of their opposition to existing political and economic systems. Various schools of libertarian thought offer a range of views regarding the legitimate functions of state and private power, often calling to restrict or to dissolve coercive social institutions.

Some libertarians advocate laissez-faire capitalism and strong private property rights, such as in land, infrastructure, and natural resources. Others, notably libertarian socialists, seek to abolish capitalism and private ownership of the means of production in favor of their common or cooperative ownership and management. Some libertarian socialists (especially left anarchists) see private property as a barrier to complete freedom and liberty. An additional line of division is between minarchists and anarcho-capitalists. While minarchists think that a minimal centralized government is necessary, anarcho-capitalists propose to completely eliminate the state.

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