Libertarian theories of law build on libertarianism or classical liberalism. The defining characteristic of libertarian legal theory is its insistence that the primary or only legitimate function of law is the preservation of liberty. Historically, the Austrian economist Friedrich Hayek is one of the most important libertarian legal theorists. Among contemporary legal theorists, an important and influential libertarian is Randy Barnett, who set out a comprehensive libertarian theory of law in his book The Structure of Liberty. Richard Epstein is also a prominent libertarian legal theorist.
Libertarian legal theory addresses a variety of substantive topics, including the following:
- What is a legitimate constitutional in light of the principles of libertarian political theory?
- What are just practices of criminal punishment?
- What are the limits on legitimate government authority? For example, what is the extent of the legitimate police power?
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