LIBT meaning in Governmental ?

Libertarianism (from French: libertaire, "libertarian"; from Latin: libertas, "freedom") is a political philosophy that upholds liberty as a core principle. Libertarians seek to maximize autonomy and political freedom, emphasizing free association, freedom of choice, individualism and voluntary association. Libertarians share a skepticism of authority and state power, but some libertarians diverge on the scope of their opposition to existing economic and political systems. Various schools of libertarian thought offer a range of views regarding the legitimate functions of state and private power, often calling for the restriction or dissolution of coercive social institutions. Different categorizations have been used to distinguish various forms of libertarianism. Scholars distinguish libertarian views on the nature of property and capital, usually along left–right or socialist–capitalist lines.

Libertarianism originated as a form of left-wing politics such as anti-authoritarian and anti-state socialists like anarchists, especially social anarchists, but more generally libertarian communists/Marxists and libertarian socialists. These libertarians seek to abolish capitalism and private ownership of the means of production, or else to restrict their purview or effects to usufruct property norms, in favor of common or cooperative ownership and management, viewing private property as a barrier to freedom and liberty. Left-libertarian ideologies include anarchist schools of thought, alongside many other anti-paternalist and New Left schools of thought centered around economic egalitarianism as well as geolibertarianism, green politics, market-oriented left-libertarianism and the Steiner–Vallentyne school.

In the mid-20th century, right-libertarian proponents of anarcho-capitalism and minarchism co-opted the term libertarian to advocate laissez-faire capitalism and strong private property rights such as in land, infrastructure and natural resources. The latter is the dominant form of libertarianism in the United States, where it advocates civil liberties, natural law, free-market capitalism and a major reversal of the modern welfare state.