Another word for anarchism; expressing opposition to both governmental and economic hierarchy; fighting for both political and economic freedom (the first being represented by democracy, the second by socialism) in opposition to the twin threats to liberty: statism/totalitarianism and capitalism.

See also: Libertarian Communism, Anarchism, Bakunin's Dictum, Anarchist FAQ

Existed - and worked quite well, as a matter of fact - in Spain during the Spanish Civil War. In the midst of fighting, peasants and workers seized and socialized farms and factories, which became self-managed. Production rose above levels achieved under Capitalism and schools and roads were built. Hundreds of examples of innovations made by the workers and peasants are available, completely shredding the idea that socialism stifles progress. Unfortunately, Franco, with aid of Hitler and Mussolini, crushed the Republic and established a dictatorship.

I use the term "libertarian socialism" to explain my own political ideas, although they're not anarchist. Basically, if you pay taxes so that the fedral gubmint can take care of a broad array of social services (and the richer you are, the more you pay), and if you don't harm anyone without their consent, then what you do is your own damn business.