Libertarianism: A brief overview
Libertarianism spawned from classical liberalism and the individualism movement which are ideologies that have existed for several centuries. Libertarianism was the basic ideology of the Founding Fathers and Framers of this nation, though there were some who held to the
ancien régime of Britain--large, centralized state, mercantilism, regulation, central banking, etc. who would adopt the label of federalists.
Libertarianism is essentially founded upon axioms of natural rights, primarily: the non-aggression principle and the axiom of self-ownership. The non-aggression principle (NAP) is simply the idea that whenever aggression (not exclusive to aggression of the 'violent' persuasion) is initiated, this is an act of immorality; as to initiate aggression is to infringe upon the natural right of self-ownership (and the various 'rights' or 'freedoms' which extend from it) of another. The natural right of self-ownership simply means that, by virtue of being human, every single human has 100% ownership of themselves, their action and thus their labor. This axiom of self-ownership is known to be understood in natural law, and it is unquestionable as the axiom appeals to reason, logic and the alternatives opposed to 100% self-ownership are absurdities.
These principles are the foundation for all the libertarian ideology at large. Libertarians, however, do not all fall under an umbrella of similar thought on other issues. There are minarchist libertarians (extremely limited government) and anarchist libertarians (more commonly known as anarcho-capitalists--no formal government). Libertarians in general believe in and advocate a capitalist free-market, unregulated by any sort of centralized state, and subjective value theory. Libertarians believe this is the most efficient and (currently) the best path to widespread prosperity and creation of wealth. For one, it allows for their foundational principles, where as the opposing economic views amount to violations of these principles and natural rights. For two, libertarians contend that in absence of state-regulation, the free-market will naturally regulate itself as a result of human action. The science of human action (or human behavior, some might say) is known as praxeology in the libertarian ideology.
Libertarians largely identify with Austrian economic theory, which coincides and explains the above positions on economics. The Austrian school of economics is largely centered around the classical liberal economist, Ludwig von Mises, who has an institute founded in his name--the Ludwig von Mises Insitute.
The libertarian party became America's 'official' third-party in the 70s, though traditionally they have not received much mainstream attention in the established two-party system. Many libertarians have been, or are also, associated with the republican party, though there have also been a few in the democratic party as well.
Libertarians generally advocate: smallest possible government (if any government at all), market deregulation, individual liberty, personal privacy, non-interventionist foreign policy, free trade, decentralized banking, full-reserve banking, specie currency, no income tax (and low/no taxes in general), no welfare-state, no redistribution of wealth, and legalization of drugs (or at the very least, cannabis).
Notable persons include: John Locke, Thomas Jefferson, Andrew Jackson, Adam Smith, Immanuel Kant, Ludwig von Mises, Murray Rothbard, F.A. Hayek, Hans-Hermann Hoppe, Milton Freidman, Robert Long, Ayn Rand, Lew Rockwell, Walter Block, Henry Hazlitt, Frederic Bastiat, Robert Nozick, Ron Paul, Thomas Woods and others.
Edited by Shade, 15 February 2010 - 10:04 PM.