Final answer:
Libertarians favor minimal government intervention, personal freedom, and a laissez-faire economy, while social democrats support an active government role in promoting social equality and regulating industries to ensure equal opportunities.
Step-by-step explanation:
The key differences between libertarian and social democrat views on government center around the extent of government intervention in individuals' lives and the economy. Libertarians advocate for a minimal government role, emphasizing personal freedom, individual rights, and a laissez-faire economy with little to no involvement in personal economic decisions, such as setting minimum wages or regulating businesses. They support a government that only ensures domestic peace, national defense, and the protection of rights without initiating force.
On the other hand, social democrats endorse a more active government role in the economy and social policies. They support government initiatives to promote social equality, such as student loan forgiveness, universal healthcare, and a living wage. While maintaining a capitalist system, social democrats also advocate for stronger regulation of industries and a more extensive social safety net, funded by progressive taxation. This outlook is grounded in the belief that government intervention is necessary to ensure equal opportunities and reduce economic inequalities.