To understand my take on libertarianism let me take you down the path that led to it...
When I joined the LP a few years ago, one of the first things I did was sign something called the non-aggression pledge. This basically says that you don't endorse and will not use force to further your political objectives. While the reasons behind having to sign this to join the party are debated, my ultimate understanding of it was a sea change for me. Upon reading up more about this, I came to realize it didn't mean what I originally understood it to mean.
Basically, the non-aggression pledge alludes to the principles laid out in
The Philosophy of Liberty
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In a nutshell, it says that you are not supposed to initiate force on others even in the form of government because it is unethical to do so. Since government is nothing without force, what it's really saying is, there should be NO government. Most people I know in the LP will deny this and I don't think many who are taken seriously in the LP advocate no government, and even those who do wouldn't want to foist this change all at once.
So, that got me to thinking. I decided that there was also no such thing as no government. You might be able to create a system of no government in a localized area for a short period of time, but sooner or later, probably sooner, government would arise and it might not be as benevolent as the one you just got rid of.
Given that, I came to the conclusion that government is literally a necessary evil, but since it can't be eradicated, the least we should do is to try to MINIMIZE it. At that point I coined a term for myself... I'm a minarcho-capitalist. I am such because I believe two things... pure anarchy is a fiction and large government is abhorrent.
Changing gears a tad, while at the Denver LP convention in 08 I picked up a copy of The Probability Broach by L. Neil Smith. It portrayed an alternate reality wherein citizens maintained their own right to vote in the legislative body (no elected officials existed) and could proxy that right to anybody they chose. I absolutely love this idea even though I want democracy tempered in such a way that it doesn't become two wolves and a sheep deciding what's for dinner.