The Libertarian Party (LP) is a political party in the United States that promotes civil liberties, non-interventionism, laissez-faire capitalism, and limiting the size and scope of government. The party was conceived in August 1971 at meetings in the home of David F. Nolan in Westminster, Colorado, and was officially formed on December 11, 1971, in Colorado Springs. The organizers of the party drew inspiration from the works and ideas of the prominent Austrian school economist Murray Rothbard. The founding of the party was prompted in part due to concerns about the Nixon administration, the Vietnam War, conscription, and the introduction of fiat money.

David Fraser Nolan was an American activist and politician. He was one of the founders of the Libertarian Party of the United States, having hosted the meeting in 1971 at which the Party was founded. Nolan subsequently served the party in a number of roles including National Committee Chair, editor of the party newsletter, Chair of the By-laws Committee, Chair of the Judicial Committee, and Chair of the Platform Committee.