Libertarianism (Latin: liber, "free") is a set of related political philosophies that uphold liberty as the highest political end. This includes emphasis on the primacy of individual liberty, political freedom, and voluntary association. It is an antonym of authoritarianism. Although libertarians share a skepticism of governmental authority, they diverge on the extent and character of their opposition. Certain schools of libertarian thought offer a range of views on how far the powers of government should be limited and others contend the state should [barely] exist at all. While minarchists propose a state limited in scope to preventing aggression, theft, breach of contract and fraud, [anarcho-capitalists] advocate its complete elimination as a political system. While some libertarians accept laissez-faire capitalism and private property rights, such as in land and natural resources, others oppose capitalism and private ownership of the means of production, instead advocating their common or cooperative ownership and management.
In the Stanford Encyclopedia of Philosophy, libertarianism is defined as the moral view that agents initially fully own themselves and have certain moral powers to acquire property rights in external things. Libertarian philosopher Roderick Long defines libertarianism as "any political position that advocates a radical redistribution of power from the coercive state to voluntary associations of free individuals", whether "voluntary association" takes the form of the free market or of communal co-operatives. In the United States, the term libertarianism is often used as a synonym for combined economic and cultural liberalism while outside that country there is a strong tendency to associate libertarianism with [anarcho-capitalism or other forms].
Anarcho-capitalism is a political philosophy that advocates stateless societies often defined as self-governed voluntary institutions, but that several authors have defined as more specific institutions based on non-hierarchical free associations. [This school of thought] holds the state to be undesirable, unnecessary, or harmful. While anti-statism is central, some argue that [anarcho-capitalism] entails opposing authority or hierarchical organisation in the conduct of human relations, including, but not limited to, the state system.
As a subtle and anti-dogmatic philosophy, [this] draws on many currents of thought and strategy. [It] does not offer a fixed body of doctrine from a single particular world view, instead fluxing and flowing as a philosophy. There are many types and traditions .. not all of which are mutually exclusive .. schools of thought can differ fundamentally, supporting anything from extreme individualism to complete collectivism [unfortunately]. Strains of [this] have often been divided into the categories of social and individualist .. or similar dual classifications.
Wiki Liberty Libertarianism [wikipedia.org]
Liberty in philosophy, involves free will as contrasted with determinism. In politics, liberty consists of the social and political freedoms guaranteed to all citizens. In theology, liberty is freedom from the bondage of sin.