The Libertarian Party is a United States political party founded in 1971. The LP is the largest third party in the United States.
The Libertarian Party was founded on the basic ideas of Libertarianism. This philosophy is rooted in ideas such as Self-Ownership, The Ownership of Property, and the Objectivist notion of man as a heroic being.
Founded in one man's house among friends, the LP has grown to considerable size, reaching almost 1 million voters in a presidential election, and is the first party ever to have run a woman who has gotten an electoral vote. In 2006, over 13,400,000 votes were cast for Libertarian candidates.
The LP runs on a grassroots Jeffersonian ideal where individuals take the stand. The party has people from all political breeds, and has many variations on it's main ideas, yet the major ideas hold true.
In 1971, the Committee to Form a Libertarian Party was established to determine if a new political party was needed, or if one of the existing political parties was a suitable. It has been documented that Richard Nixon's 90 day price and wage freeze in August of that year was a deciding factor in the decision to form the LP.
On 11 December, the committee pulled the trigger, and the committee was replaced by the Libertarian Party. Notice was published in Reason Magazine and possibly other places, which helped efforts to bootstrap the party going into its First National Convention.
At the Denver convention, Ed Carlson proposed a Statement of Principles, and the final draft was a minor variation of one proposed by John Hospers. It was expected that other planks would be routinely removed from the platform as they ceased to be timely or relevant. The Libertarian National Committee was set up, Susan Nolan was elected national chair, and the first national ticket was John Hospers for President and Tonie Nathan for Vice President.
While the Libertarian Party soon discovered the hard way how difficult it was to get on ballots, its presence on two states was adequate to attract the attention of an unhappy Republican elector, Roger MacBride, who gave the Hospers/Nathan ticket his vote, making Tonie Nathan the first woman and the first ethnic Jew to receive an electoral vote.
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