Libertarianism is a political philosophy that emphasizes individual freedom and personal responsibility. It advocates for minimal government intervention in people's lives, believing that individuals should have the right to make their own choices as long as they do not harm others. This includes areas like free speech, personal relationships, and economic activities. Libertarians argue that a free market leads to better outcomes for society, as competition encourages innovation and efficiency. They often oppose regulations and taxes, viewing them as infringements on personal liberty. Prominent figures in this movement include Ron Paul and Ayn Rand, who have influenced many with their ideas on freedom and capitalism.