What is Libertarian Populism?

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What is "libertarian populism" and why is it so controversial?

On Tuesday, July 30, Reason's Nick Gillespie moderated a fast-paced discussion with two of the architects of libertarian populism: Ben Domenech of The Transom and Real Clear Politics, and Tim Carney of the Washington Examiner, as well as Jesse Walker of Reason (and author of the forthcoming The United States of Paranoia).