What is Libertarianism? What are the pros and cons of Libertarianism? | Libertarianism Explained

welcome to illustrate to educate Please  Subscribe and ring the bell for more   simple and objective videos on topics that  matter in this video we're going to look at   a simple explanation of libertarianism as well  as the arguments for and against libertarianism   libertarianism is a political philosophy that  advocates for minimal government intervention   in the lives of individuals and the economy it  is based on the belief that individuals have the   right to exercise autonomy and freedom of choice  as long as they do not harm others this principle   is often referred to as a non-aggression  principle and is Central to libertarianism   Libertarians believe in the protection  of individual rights and the importance   of property rights they argue that individuals  should be free to make their own decisions about   how to live their lives and that the government  should not be involved in regulating personal   Behavior this includes issues such as drug use  Reproductive Rights among many other things   in terms of Economic Policy Libertarians support  free market capitalism and the abolition of   government regulation and subsidies they argue  that a free market economy in which prices are   determined by supply and demand is the most  efficient and fair system they also believe   that government intervention in the economy such  as through taxes and regulations hinders economic   growth and prosperity Libertarians also hold  that the role of government should be limited   to protecting individuals and their property from  harm including through the provision of a legal   system and a military for defense they reject the  idea that the government should play a central   role in redistributing wealth providing social  services or managing the economy when it comes   to the pros and cons of libertarianism those  who support it say that it provides individual   freedom and autonomy Libertarians believe that  individuals should be able to make their own   choices and decisions without interference from  the government they argue that this promotes   personal responsibility and self-reliance next  they point to a smaller government with limited   powers which they argue will lead to Greater  economic freedom and efficiency third Libertarians   believe that free markets in which prices are  determined by supply and demand lead to Greater   economic growth and prosperity they argue that  government intervention in the economy such as   through taxes and regulations hinders economic  growth lastly those who support libertarianism   believe that protection of property rights are  essential to protecting individual freedom and   that the government should not be able to seize  private property without just compensation   those against libertarianism argue that  libertarian policies such as the promotion of   free markets and limited government intervention  can lead to Greater income and wealth inequality   next they point to the lack of a social safety  net because Libertarians believe that the   government should not play a role in providing  social services or redistributing wealth those   against libertarianism believe this lack of  support for those in need can exacerbate poverty   third they point out that limited government  intervention in the economy can lead to negative   side effects such as pollution and market failure  they believe that limited intervention in issues   like health care and education may result in  a lack of access to basic needs for certain   individuals and communities keep in mind that  there are different variations of libertarianism   and some of the criticisms may not apply  to all variations what are your thoughts   on libertarianism feel free to comment below if  you enjoyed this video be sure to subscribe to   illustrate to educate to support more simple  and objective videos on topics that matter

Channel: Illustrate to Educate

Views: 51,574

Keywords: libertarianism

Id: eTs71VCF4eo

Length: 3min 47sec (227 seconds)

Published: Mon Jan 23 2023