Libertarianism

Explanation

Libertarianism holds that individual liberty is the primary political value and that the role of government should be strictly limited to protecting people from force and fraud. Economic libertarians favor free markets, low taxes, and oppose regulation. Social libertarians favor personal freedom on lifestyle issues — drug legalization, same-sex marriage, freedom from surveillance. Some libertarians favor abolishing the state entirely (anarcho-capitalism); others support a minimal "night watchman" state. The U.S. Libertarian Party is the most electorally successful third party in American politics by some measures. Libertarian thought has influenced both mainstream conservatism (Reagan-era deregulation) and aspects of the left (civil liberties advocacy).