Which term describes a belief in minimal government and a free market economy?

The term that best describes a belief in minimal government and a free market economy is Libertarianism. This political philosophy emphasizes individual liberty, personal responsibility, and limited governmental intervention in both personal lives and economic activities. Proponents advocate for free markets, where prices are determined by supply and demand rather than government regulation, aligning with the idea that individuals should have the freedom to make their own economic choices without unnecessary interference.

Libertarianism stands in contrast to the other ideologies listed. Traditionalism typically focuses on maintaining established norms and practices, often valuing community and authority over individualism. Progressivism advocates for social reform and government action to address issues like inequality and injustice, which often involves increased government intervention in the economy. Populism is centered around the idea of representing the interests of ordinary people, which may include heavy government involvement in addressing those needs. Thus, Libertarianism distinctly aligns with the principles of minimal government and a free market economy.