Libertarianism
Slowly growing since the 1960 is an ideology so liberal that it became conservative, or vice versa. Libertarians would return to the original Adam Smith, with essentially no government interference in anything. They would deliver what Republicans only talk about. They note that modern liberals want a controlled economy but personal freedom while modern conservatives want a free economy but constraints on personal freedom. Why not freedom in both areas? Libertarians oppose subsidies, bureaucracies, taxes, intervention overseas, and big government itself. As such, they plugged into a very old American tradition and gained respectability. Although no Libertarian candidates won elections, their Cato Institute in Washington became a lively think tank whose ideas could not be ignored. (One Cato paper deplored cities building light rail systems when buses are better and cheaper. The paper’s title: “A Desire Named Streetcar.”) Some critics blame libertarian worship of unregulated markets for the reckless deals that produced the 2008 financial meltdown. Rep. Ron Paul, who ran for president earlier as a Libertarian, later attempted to gain the Republican nomination.