LIBERTARIAN PARTY
Libertarianism is a term used by a broad spectrum of political philosophies which seek to maximize individual liberty and minimize or abolish the state. "There is no single theory that can be safely identified as the libertarian theory, and probably no single principle or set of principles on which all libertarians can agree." [Quote by Matt Zwolinski, Assistant Professor of Philosophy at San Diego University]


Factions:

Agorist - Ultimate goal bringing about a society in which all "relations between people are voluntary exchanges – a free market." Ideologically, it is a term representing a revolutionary type of free-market anarchism, an advocacy of untaxed black market activity, which agorists say will lead to development of private defense force sufficient to protect private property and liberty from the state to the point where such protection is strong enough to overthrow the state.

Anarcho-Capitalist - an individualist anarchist political philosophy that advocates the elimination of the state and the elevation of the sovereign individual in a free market. In an anarcho-capitalist society, law enforcement, courts, and all other security services are provided by voluntarily-funded competitors such as private defense agencies rather than through compulsory taxation. Because personal and economic activities are regulated by the natural laws of the market through private law rather than through politics, victimless crimes and crimes against the state would be rendered moot.

Geolibertarian - advocates of geoism, which is the position that all land is a common asset to which all individuals have an equal right to access, and therefore if individuals claim the land as their property they must pay rent to the community for doing so. Rent need not be paid for the mere use of land, but only for the right to exclude others from that land, and for the protection of one's title by government.They simultaneously agree with the libertarian position that each individual has an exclusive right to the fruits of his or her labor as their private property, as opposed to this product being owned collectively by society or the community, and that "one's labor, wages, and the products of labor" should not be taxed. Also, with traditional libertarians they advocate "full civil liberties, with no crimes unless there are victims who have been invaded.

Paleolibertarian - based on a combination of radical libertarianism in politics and cultural conservatism in social thought. Austrian economics, anti-federalism, Misesian libertarianism, and anarcho-capitalism heavily influenced the movement's attitudes toward ideas on trade, commerce and statecraft.

Neolibertarian - embraces incrementalism and pragmatism domestically, and a generally interventionist foreign policy. Neolibertarianism holds that the best form of national government is one that promotes capitalism and strong national defense policies, including the use of pre-emptive military engagements if necessary. It also holds that the federal government should concern itself with these issues above all others, while leaving nearly every other issue to more local political entities: state/provincial and municipal governments, communities, and individuals.

Left-libertarianism (Libertarian Socialism) - doctrine that has a strong commitment to personal liberty and has an egalitarian view concerning natural resources, believing that it is illegitimate for anyone to claim private ownership of resources to the detriment of others. By this definition, left libertarians include anarcho-communists. Some left-libertarians of this type support some form of income redistribution on the grounds of a claim by each individual to be entitled to an equal share of natural resources. Noam Chomsky refers to himself as a left libertarian.

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Sometimes Objectivism is considered a part of the libertarian philosophy. Objectivism holds that there is an independent reality that human beings are conscious of through their senses, that reason is the only way of gathering knowledge and only the individual rational mind can process this data, that the proper moral purpose of one's life is to pursue one's own rational self-interest, and that the only moral social system is full laissez-faire capitalism with a minimal government limited to courts, police, and a military because it is the only system where humans are barred from initiating the use of physical force upon each other (either within or outside the structure of said government).


Most definitions taken from Wikipedia, and when necessary Libertarianwiki