Noam Chomsky was recently asked to describe libertarianism:

What’s called libertarian in the United States, which is a special U. S. phenomenon, it doesn’t really exist anywhere else — a little bit in England — permits a very high level of authority and domination but in the hands of private power: so private power should be unleashed to do whatever it likes. The assumption is that by some kind of magic, concentrated private power will lead to a more free and just society. Actually that has been believed in the past. Adam Smith for example, one of his main arguments for markets was the claim that under conditions of perfect liberty, markets would lead to perfect equality. Well, we don’t have to talk about that! That kind of … libertarianism, in my view, in the current world, is just a call for some of the worst kinds of tyranny, namely unaccountable private tyranny. Anarchism is quite different from that. It calls for an elimination to tyranny, all kinds of tyranny. Including the kind of tyranny that’s internal to private power concentrations. So why should we prefer it? Well I think because freedom is better than subordination. It’s better to be free than to be a slave. It’s better to be able to make your own decisions than to have someone else make decisions and force you to observe them. I mean, I don’t think you really need an argument for that.