Freedom is based upon the principle of self ownership. It consists of every individual having the inalienable right to his or her own life, liberty, and justly-acquired property. Every man owns his own life and, therefore, has the right to do anything he wishes with that life, so long as he does not forcibly interfere with the life of any other person. Freedom is self-control, not license to impose on others.
Man can achieve his highest potential only if he is free. In order to be free he must have Free Agency. Free Agency is the freedom to choose, the freedom to succeed, the freedom to fail, and the freedom to learn from his mistakes. If man wishes to have Free Agency he must also respect the Free Agency of his fellow man. Free Agency does not absolve man from responsibility for his own actions.
Economics and Liberty: Two Sides of the Same Coin
Economic freedom (property rights) and political freedom (human rights) are indivisible. They are merely two sides of the same coin – for you cannot have one without the other.