In a nutshell Libertarianism is the philosophy of thinkers who shared in common a great deal of scepticism about government. Libertarian thinkers are committed to the promotion of individual rights, free markets, and the rule of law in its role in protecting liberty and limited government. As such, the libertarian school of thought is generally that of keeping laws to a minimum, particularly focusing on the minimisation of regulation.
Friedrich August von Hayek Robert Nozick
Economic Analysis of Law Rule of Law