Capitalism

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Many libertarians focus on the concept of capitalism, however they often use the word in different manners, resulting in different evaluations of whether capitalism is desirable or undesirable. Objectivists, anarcho capitalists, and other right libertarians generally consider capitalism to be an ideal social system, where all property and responsibility rests in the hands of individuals. This definition is similar to common usage in the United States, and may have developed during the Cold War. This definition is very close to definition of liberalism as it is used outside of the United States and Canada.

Some left libertarians, including mutualists and anarchists use a definition of capitalism that is closer to that used by socialists. They define capitalism as the social system run by and for the capitalist class, which may take many forms based upon the needs of capital. The original form of capitalism was essentially liberal, but as it developed it developed more intricate state controls over the people.

Geolibertarians are not against capitalism per se, but believe that the concept of land ownership needs to be corrected in order to make capitalism truly just and desirable. They see private collection of land rent as exploitation, and believe that it is the cause of most, if not all problems with the free market. They advocate a Land Value Tax as a means of correcting this perceived injustice.

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