The Libertarian Party has several core principles.
Minimum Government and Maximum Freedom
The only role of existing governments is to protect Life, Liberty and Property from force and fraud. Nothing more. Liberty is a primary political value. In judging any particular government act or program, a libertarian asks if it increases or decreases an individual’s liberty. The goal of the libertarian enterprise is to have minimum government necessary, if any. Libertarians agree to work towards consistently reducing the government to produce minimum government and maximum freedom.
Non-Aggression
The only proper use of force is in defense of individual rights. The principles of voluntary action and non-initiation of force should guide all relationships between individuals, groups, and governments.
Individual Rights
Every individual has certain inherent enforceable negative rights to life, liberty, and property. A negative right does not require any action on the part of any other person. A positive right forces actions by others. The two are incompatible. People can voluntarily choose to assist others but cannot be forced.
Tolerance
You should not interfere with people you do not agree with or disapprove of if they are are not forcibly interfering with your, or someone else’s, life, liberty, or property (negative rights).
Peace
The principle of non-intervention. This entails the free movement of capital, labor, people, goods/services and ideas. Libertarians can differ on the implementation of these basic ideas.
Free Markets
No transaction or cooperation should occur unless it is voluntary with individuals free to set their own terms.