I was referred to this sub by someone in r/PoliticalDebate in response to my question there. Sorry if this has been asked, but I didn't see a FAQ.

When I hear "Libertarian", I think of:

  • Little to no intrusion into people's private lives by the state. Decriminalization of victimless crimes like drug possession and prostitution, minimal policing outside of what is necessary to protect life and limb, and private property. There's a lot to like here.
  • Laissez-faire attitudes toward business and the economy. Low taxes and very little regulation.
  • Ultra-wealthy people who don't want to pay taxes or spend money protecting their workers or the environment.

When I hear "Socialist" (assuming Marx, not Denmark), I think of:

  • Prohibition on private ownership of the means of production. Private citizens may own a house or a car, but not a business.
  • Centrally-planned economy. Collective farming, five-year plans, top-down management, etc.
  • Totalitarian government (which is necessary given the need for absolute, unquestioned control over the economy)
  • Limited freedoms to preserve the power of the state. I know this wasn't Marx's intention, but there is no example of historical socialism without strict social control.

My questions to you are:

  1. How do your definitions of "libertarian" and "socialist" differ from mine? I assume they must.
  2. In a libertarian socialist economy what mechanisms ensures that goods are distributed to those who need them? Do you envision competition and a profit motive, or would there have to be some level of central planning?