Libertarian Socialism is a term synonymous with the word "Anarchism". Anarchy, strictly meaning "without rulers", what sort of system would exist without state or capitalist masters... a More democratic society with maximal amount of individual liberty and freedom possible.
Libertarian Socialism recognizes that the concept of "property" (specifically, the means of production, factories, land used for profit, rented space) is theft. In a truly libertarian society, the individual would be free from exploitation caused by the concentration of all means of wealth-making in the hands of an elite minority.
Why "Libertarian"? Since capitalism's early beginnings in Europe, and it's authoritarian trend of wage-slavery for the majority of people (working class) by a smaller, elite group who own the "means of production": machines, land, factories, there was a libertarian movement in response to capitalism known as "Socialism". In almost every case, the socialist movement has been divided along authoritarian, and libertarian lines. The anarchists on the libertarian side, and the Jacobins, Marxists, Leninists, Stalinists, and reformist state-socialists on the authoritarian side this side although some times align them selves with anarchy, is just replacing one elite minority with a different one. These are what we saw in red china and communist Russia. There was also a movement called "Propaganda by deed", around the late 1800's to early 1900's, in which some anarchists believed that violence was the best strategy for opposing the state. This was a disaster, and created negative characterizations by the press... the "bomb-toting anarchist" is for the most part a creation of the media. Before this stigma anarchism was recognized as an anti-authoritarian socialist movement. This movement is what gives anarchy its bad rap. Anarchy is more a peaceful movement than what is portrayed by angry teens vandalizing and blowing shit up. This is not what we are about.
Many anarchist groups and publications now use the word "libertarian" instead of "anarchist" to avoid state repression and the negative association of the former term. Libertarian Socialism differentiates itself from "Anarchy" as a movement in that it specifically focuses on working class organization and education in order to achieve human emancipation from the chains of capitalist oppression.
Why "Socialism"? Socialism, in its traditional and true definition, means "the workers democratic ownership and/or control of the means of production". Such a definition implies that rather than a government bureaucracy in charge, the focus is on highly democratic organization, education and awareness, and where every individual is encouraged to become an active, not a passive participant in all that affects our lives.
In Webster's New International Dictionary, the definition of 'Libertarian' is stated to be: "One who holds to the principle of free will; also, one who upholds the principles of liberty, esp. individual liberty of thought and action."
in comparison to the authoritarian Soviet Union and Red China of the 1940's and 50's, liberal capitalism could be made to appear more "libertarian" than socialism if one were to accept that China and the USSR were the definitive examples of "socialism". But, if one were to have listened to the original socialistic libertarians (the anarchists), it would have been clear that both the "socialism" of so-called "Communist" countries, are just another authoritarian oppressive establishment that gives the power and concentration of wealth to the state, which becomes the new elite group not back to the Majority.
Libertarian Socialism's anti-state stance may even be given the label "Laissez-fair socialism" if a politician were to approach some anarchist workers in France and ask them what it was they could do for them, they would reply, "leave us alone". Libertarian socialists understand that it is the workers who create and maintain everything in the world, and we do not need leaders to direct them in the affairs of their lives. What is the least a government could do for workers? Keep the Government and capitalists off our back, and that it is far better to avoid the need for "politricksters" and capitalist rulers in the first place.
The main principles of Libertarian Socialism are liberty, freedom, the right for workers to fraternize and organize democratically, the absence of illegitimate authority and the resistance against force. Libertarian Socialists hold that the people can make the best judgments for themselves when given enough information and therefore stress education rather than regulation. Libertarian Socialists see humankind divided in a struggle between different social classes: the property-owning class, and the working class. Libertarian socialists are against all forms of coercion, state and capitalist, and do not seek to regulate human behaviors by way of the state.
Libertarian Socialists see most of humanities problems arise from the inherently coercive, undemocratic capitalist and state systems. The answer is not regulation or limitation, but organization and education with a working-class emphasis.
World problems will not be solved by "professionals", free-market entrepreneurs, the ruling capitalist class, politicians or state bureaucrats. Only WE THE PEOPLE, organized and educated, can solve our own problems.
Libertarian socialists believe in a form of the free market, a truly free "market" (of ideas and aspirations, not money and wealth), versus the capitalist construct that exists today which is based on a minority controlling the world's resources and the rest forced to work for them or pay them rent. We believe in a free market where workers are free to organize unions without fear of repression, and where exploitation of workers through profits does not exist. People who run their own individual businesses (or trades) without exploiting anyone would be left alone, but large projects would be based on mutual free associations, which would last for the duration of the project each member affected would have an equal say in how the project is carried out and what wages are paid. Individuals would truly have control over their lives when working together, or alone. In a true free market, production facilities would be owned and controlled by the workers themselves.
It has always been impossible for workers to challenge capitalism effectively so long as divisions of people based on gender, skin color, or sexual orientation have continued. Racism in particular has been used from the start as a way of dividing workers along an arbitrary basis and weakening any chances for solid organization. As long as there is always someone being looked down upon, someone forced to accept lower wages because of their low status in society, wages in a competitive system can always be pushed to what the lowest and most desperate will accept. It should also be known that there is no scientific proof of the existence of separate human "races", nor is there scientific proof that women are inherently physically weaker or less intellectually capable than men. The issue of "hate speech" and pornography must always take into account the importance of artistic freedom and the necessity to criticize what one disagrees with. When it is clear that a conscious effort is being made to denigrate or divide a group of people from another, with some economic or political goal as its motivation, libertarian socialists would resist such actions on the basis that they would divide and weaken any chance for eventual liberation from capitalism. Finally, so long as any group is prejudiced against, humanity will wage war against itself for irrational reasons.
Organizations
Currently the most prominent organizations along libertarian socialist lines are the International of Anarchist Federations (IFA), and the syndicalist union known as the Industrial Workers of the World (IWW), the anarcho-syndicalist International Workers Association (IWA
Notable libertarian socialist theorists. Aside from the significant number of anarchist theorists such as Pierre-Joseph Proudhon, Mikhail Bakunin, Peter Kropotkin and Alexander Berkman, some important contributors to libertarian socialist theory and philosophy would be Noam Chomsky, Daniel Guerin, and Murray Bookchin.