Portal:Libertarianism

Left-libertarianism (or left-wing libertarianism) names several related, but distinct approaches to political and social theory which stress both individual freedom and social equality. In its classical usage, libertarianism is a synonym for anti-authoritarian varieties of left-wing politics, e.g. libertarian socialism, which includes anarchism and libertarian Marxism, among others.

Left-libertarianism can also refer to political positions associated with academic philosophers Hillel Steiner, Philippe Van Parijs and Peter Vallentyne that combine self-ownership with an egalitarian approach to natural resources. While maintaining full respect for personal property, they are skeptical of or fully against private property, arguing that neither claiming nor mixing one's labor with natural resources is enough to generate full private property rights and maintain that natural resources (land, oil, gold and vegetation) should be held in an egalitarian manner, either unowned or owned collectively. Those left-libertarians who support private property do so under the condition that recompense is offered to the local community. Many schools of thought are communist, advocating the eventual replacement of money with labor vouchers or decentralized planning.

On the other hand, left-wing market anarchism, which includes Pierre-Joseph Proudhon's mutualism and Samuel Edward Konkin III's agorism, appeals to left-wing concerns such as egalitarianism, gender and sexuality, class, immigration and environmentalism within the paradigm of a socialist free market. In the United States, the word "libertarian" has become associated with right-libertarianism after Murray Rothbard and Karl Hess reached out to the New Left in the 1960s. However, until then political usage of the word was associated exclusively with anti-capitalism and in most parts of the world such an association still predominates.

Adam Smith (baptised 16 June [O.S. 5 June] 1723 – 17 July 1790) was a Scottish economist and philosopher who was a pioneer in the field of political economy and key figure during the Scottish Enlightenment. Seen by many as the "father of economics" or the "father of capitalism", he is primarily known for two classic works: The Theory of Moral Sentiments (1759) and An Inquiry into the Nature and Causes of the Wealth of Nations (1776). The latter, often abbreviated as The Wealth of Nations, is regarded as his magnum opus, marking the inception of modern economic scholarship as a comprehensive system and an academic discipline. Smith refuses to explain the distribution of wealth and power in terms of divine will and instead appeals to natural, political, social, economic, legal, environmental and technological factors, as well as the interactions among them. The work is notable for its contribution to economic theory, particularly in its exposition of concept of absolute advantage.

Smith studied social philosophy at the University of Glasgow and at Balliol College, Oxford, where he was one of the first students to benefit from scholarships set up by John Snell. Following his graduation, he delivered a successful series of public lectures at the University of Edinburgh, that met with acclaim. This led to a collaboration with David Hume during the Scottish Enlightenment. Smith obtained a professorship at Glasgow, where he taught moral philosophy. During this period, he wrote and published The Theory of Moral Sentiments. Subsequently, he assumed a tutoring position that facilitated travel throughout Europe, where he encountered intellectual figures of his era. (Full article...)

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