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What is libertarian capitalism?

A laissez-faire political philosophy advocating only minimal state intervention in the lives of citizens coupled with an economic system in which trade and industry are controlled by private owners for profit, rather than by the state.

Its adherents believe that private morality is not the state’s affair, and that therefore activities such as drug use and prostitution that arguably harm no one but the participants should not be illegal. Libertarianism shares elements with anarchism, although it is generally associated more with conservatism, chiefly in the US.

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