Right-libertarianism, also known as libertarian capitalism or right-wing libertarianism, is a political philosophy that strongly advocates for minimal state intervention in the economy and the private lives of citizens. It emphasizes individual liberty, private property, and free market capitalism. Right-libertarians believe that each individual has the right to own the fruits of their labor and that the role of the state should be limited to protecting these rights.
The roots of right-libertarianism can be traced back to the classical liberal ideas of the Enlightenment era, particularly those of John Locke and Adam Smith. Locke's theory of natural rights, which posited that individuals have inherent rights to life, liberty, and property, is a cornerstone of right-libertarian thought. Smith's concept of the "invisible hand" of the market, which argued that free markets lead to efficient outcomes, is another key influence.
In the 20th century, right-libertarianism was further developed by thinkers such as Ludwig von Mises, Friedrich Hayek, and Milton Friedman. These economists, associated with the Austrian School and the Chicago School of economics respectively, argued against government intervention in the economy and championed the virtues of free markets.
The term "libertarian" was first used in a political sense in the late 18th century by William Belsham in reference to an anti-coercion principle. However, it wasn't until the mid-20th century that the term began to be associated with the political philosophy we now know as right-libertarianism. This shift occurred largely in the United States, where classical liberal ideas were being increasingly distinguished from the social liberalism that had come to dominate the Democratic Party.
In the latter half of the 20th century, right-libertarianism gained significant traction in the United States, particularly during the Reagan era. The Libertarian Party, founded in 1971, has since become the third largest political party in the country. Right-libertarian ideas have also influenced conservative and libertarian movements in other parts of the world, including Europe and Latin America.
Despite its growth, right-libertarianism remains a controversial ideology. Critics argue that its emphasis on minimal state intervention can lead to social inequality and neglect of public goods. Supporters, on the other hand, maintain that it is the most ethical and efficient system for promoting individual freedom and economic prosperity.
