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Libertarianism
Libertarianism is a philosophy that places individual liberty at the center of political thought. Although libertarians acknowledge the value of other goals, such as justice, peace, order, equality, and prosperity, they see them as given meaning by liberty. Libertarians take seriously the admonition of the English classical liberal historian Lord Acton that “[l]iberty is not a means to a higher political end. It is itself the highest political end.” Libertarians support free markets, free trade, repeal of victimless crime laws, and strict limits on governmental powers.
The term “libertarian” was popularized in the United States in the mid-twentieth century after “liberal” had come to be associated with what in Europe is known as “social democracy,” and a new term for liberal ideas was needed. The Austrian ...
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