The political theory that advocates for limited government and individual freedoms is known as libertarianism. This ideology emphasizes personal autonomy, free markets, and minimal state intervention in both personal and economic matters. Libertarians believe that individuals should be free to make choices about their lives, as long as they do not infringe on the rights of others. Central to this philosophy is the concept that government functions should be restricted to protecting individual rights, such as property rights and personal freedoms. This perspective often leads to debates about the balance between liberty and government control in society.