Generally speaking, I find that most Libertarians choose that label because it relieves them of critical thought and critical judgement.
Middle of the road politics is no politics at all. Legalizing everything and letting everyone decide for themselves what is right or wrong is within spitting distance of the left-wing's two sacred tenets of moral relativism and situational ethics.
A civilized society has the right to, and must, decide what will be acceptable behavior for the whole of that society. Two of the examples that were cited--drugs and abortion-- are opposed by political conservatives because of the demonstrable harm to society resulting from the behavior. Before anyone dredges up the motorcycle helmet law, I agree that riders should have the right to ride without a helmet if they so choose; as long as they indemnify society from the repsonsibility of their medical care--or funeral.
The comparison between gun ownership and drug peddling/use is ridiculous. First, firearms ownership by law-abiding citizens is a Constitutionally-protected right. Second, inanimate objects do not commit crimes or injure/murder people. It is the use of the object (the behavior) that society has decided will be codified, judged and punished as events dictate.
The major difference between Libertarians and Liberals is that, while both groups claim to want absolute freedom for "the people", Liberals only want it to the extent that it won't free Conservatives to be heard. Anybody follow the so-called Campaign Finance Reform Law? It is just a means for the Liberals to muzzle political opponents prior to an election. Know why? Because most Americans DISAGREE with the political left.
Most Americans are opposed to drug use and sale, abortion, gay marriage, human cloning, mandatory gay studies in elementary schools, forbidden prayer in schools, optional recitation of the pledge of allegiance in schools, flag burning, welfare on demand, forced school busing, etc., etc., etc. But the bottom line at election time is, "What will candidate X do for me personally?"
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