Libertarianism

Libertarianism is a term adopted by a broad spectrum of political philosophies which advocate the maximization of individual liberty and the minimization or even abolition of the state. Libertarians embrace viewpoints across that spectrum, ranging from pro-property to anti-property, from minarchist to openly anarchist.

All forms of libertarianism support strong personal rights rights to life and liberty, but do not agree on the subject of property. The best known formulation of libertarianism supports free market capitalism by advocating a right to private property, including property in the means of production, minimal government regulation of that property, minimal taxation, and rejection of the welfare state, all within the context of the rule of law. A number of countries worldwide have libertarian parties which run candidates for political office.

Libertarian socialists—the first political activists to adopt the term libertarian in the mid-19th century—are generally opposed to some level of private property and various forms of authority. While these libertarians may not believe that market transactions or private property deserve protection, they also are skeptical of centralized government intervention as a solution, and therefore support a system of decentralized, popularly governed, voluntary, cooperative associations to check or to replace state power. Left-libertarianism is concerned with material equality and “appropriation of unappropriated natural resources”. (CC Wikipedia)

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