Final answer:
The term 'libertarian' describes someone who sees a large government as a threat to personal freedom, free markets, and democracy. These individuals advocate for minimal government intervention and often align with conservatives, despite distinct philosophical differences.
Step-by-step explanation:
Today, the term libertarian refers to someone who believes that a large government poses a threat to the freedom of individual citizens and to free markets and democracy. Libertarians advocate for minimal government intervention in personal behaviors and economic activities, arguing against extensive taxation and government-provided services. They support the protection of individual liberties, free trade, and a capitalist economy. Classical liberalism echoes some of these values but has diverged with some advocating for a larger governmental role in the economy, a notion famously critiqued by F. A. Hayek who warned against the loss of freedoms due to expansive government power.
Modern conservatives share the libertarian preference for a smaller government and a belief that the market should regulate economics without substantial government interference. Thus, those who fear large governmental control and prioritize personal freedom usually align themselves with libertarian philosophies, often influencing their political choices.
Nonetheless, it's important to note that the term 'conservative' has been used broadly and sometimes inaccurately to describe libertarians. In reality, libertarians focus deeply on personal freedom and have philosophies that can be distinct from traditional conservatism.