Like other third parties, Libertarians have never won much of anything in American politics. But as they have since the party was founded in the 1970s, their candidates keep pressing on with a message of limited government, lower taxation and limited regulation. The Libertarian candidates in Tuesday's gubernatorial elections in New Jersey and Virginia represent the two sides of third-party politics in America. On one hand, they are principled, committed and willing to forge ahead despite virtually no chance of success. On the other hand, write Eric Boehm and Kathryn Watson, in a nation growing more dissatisfied with the two traditional political parties, with Democratic promises that never seem to be delivered and Republican ideals that seem rooted in the 20th century, they represent a new way forward.