What is libertarian capitalism?

Ideology

Libertarian capitalism is a laissez-faire political philosophy advocating only minimal state intervention in the lives of citizens coupled with an economic system in which trade and industry are controlled by private owners for profit, rather than by the state.

The philosophy advocates for negative rights, natural law, and a major reversal of the modern welfare state. It also strongly supports private property rights and defends market distribution of natural resources and private property.

Its adherents believe that personal preferences are not the state’s affair, and that therefore activities such as drug–use and prostitution, that arguably harm no one but the participants, should not be illegal. Libertarian capitalism shares elements with minarchism and anarcho–capitalism, although it is also associated with conservatism, chiefly in the United States of America.

Followers

Libertarian capitalists support light restrictions on both economic and cultural freedom. Libertarian capitalists oppose increased economic regulations. Libertarian capitalists do not support the abolition of the state.

Allies

Libertarian capitalists will ally themselves with those nearby on the political spectrum, such as conservatives, neo-liberals, minarchists, liberals, and centrists.

Libertarian capitalists tend to view anti-statists with derision, believing a state, even if minimal, to be necessary, and as such, will not ally with them.

Enemies

Libertarian capitalists consider all authoritarians, whether they socialist or capitalist, to be their enemies. Libertarian capitalists also view all socialists as their enemies.

Location on the political spectrum

Libertarian capitalism is located at the centre-bottom centre-right of the political spectrum. It is bordered by conservatism, neo-liberalism, minarchism, anarcho-capitalism, Georgism, mutualism, liberalism, and centrism. As it is a mainstream ideology, libertarian capitalism occupies more space on the spectrum than fringe ideologies.