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Some modern American libertarians are distinguished from the dominant libertarian tradition by their relation to property and capital. While both historical libertarianism and contemporary economic libertarianism share general antipathy towards power by government authority, the latter exempts power wielded through free-market capitalism .
Historically, the Austrian economist Friedrich Hayek is the most important libertarian legal theorist. [citation needed] Another important predecessor was Lysander Spooner, a 19th-century American individualist anarchist and lawyer. John Locke was also an influence on libertarian legal theory (see Two Treatises of Government).
In contrast, while condemning governmental encroachment on personal liberties, modern American libertarians support freedoms based on their agreement with private property rights. [91] The abolition or privatization of amenities or entitlements controlled by the government is a common theme in modern American libertarian writings. [92]
American libertarians, especially right-libertarians, are against laws that favor or harm any race or either sex. These include Jim Crow laws, state segregation, interracial marriage bans and laws that discriminate on the basis of sex. Likewise, they oppose state-enforced affirmative action, hate crime laws and anti-discrimination laws. They ...
Tonie Nathan (1923–2014) – American media commentator and Libertarian Party vice-presidential election candidate; Thomas Paine (1737–1809) – American Revolutionary War figure; Ron Paul (b. 1935) – American politician and presidential candidate (1988, 2008 and 2012) Richard Posner (b. 1939) – American judge and legal theorist
Some deontological libertarian views are based on the non-aggression principle which states that no human being holds the right to initiate force or fraud against the person or property of another human being under any circumstances. This principle is taken as basic, defining all other moral principles, not simply principles of justice.
The "poverty and welfare" issues page of the Libertarian Party's website says that it opposes regulation of capitalist economic institutions and advocates dismantling the entirety of the welfare state: We should eliminate the entire social welfare system. This includes eliminating food stamps, subsidized housing, and all the rest.
While all libertarians begin with a conception of personal autonomy from which they argue in favor of civil liberties and a reduction or elimination of the state, left-libertarianism encompasses those libertarian beliefs that claim the Earth's natural resources belong to everyone in an egalitarian manner, either unowned or owned collectively.