libertarian capitalism
/ˌlɪbəˈtɛəriən kæpɪˈtɪzəm/ · lib·er·tar·i·an cap·i·tal·ism
noun
- An economic system that combines the principles of libertarianism and capitalism, advocating for individual rights, free markets, and limited government intervention. The libertarian capitalist movement gained momentum in the 20th century with the rise of thinkers like Ayn Rand and Murray Rothbard.
- A political ideology that seeks to minimize government control over the economy and maximize individual freedom and choice. The libertarian capitalist party's platform emphasized reducing taxes, deregulating industries, and promoting entrepreneurship.
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Did you know? The term 'libertarian capitalism' is often associated with the Austrian School of economics, which emphasizes the importance of individual freedom and voluntary exchange in economic decision-making.