Libertarianism simply refers to a political philosophy, which considers liberty as the main objective. Those who believe in libertarianism called libertarians aim to maximize freedom of choice as well as autonomy. They also seek to put emphasis on voluntary association, individual judgment, and political freedom.
Generally, those who are considered libertarians are skeptics when it comes to authority, but they may differ in terms of the matters that they oppose to regarding economic systems and politics. Different schools of libertarian philosophy provide different views when it comes to the functions of private power and the state, and typically asserts that pervasive social institutions be eradicated.
Some of the libertarians nowadays support laissez-faire capitalism, and advocates private property rights when it comes to infrastructures, land, and natural resources. On the other hand, those who are considered libertarian socialists support the abolishment of capitalism and private ownership. There are also those which are regarded as minarchists, who believe that a centralized government that is limited is essential for the protection of individuals and their own properties against different crimes. Lastly, there is also a group of people called anarchists, who believe that the state is a political system that is needed to be abolished.
Originally, libertarianism refers to a philosophical idea that centers on free will. However, this philosophical belief has later on been associated with anti-state socialism and other political movements that are critical when it comes to authority that is believed to aid certain forms of injustice. In the US, the term libertarianism is used to refer to the pro-capitalist economic liberalism. American political parties and writers also use the term libertarian to refer to the promotion of the free market economics of capitalists. Lastly, libertarianism is also defined as the philosophical belief that agents have a power to obtain property rights.