Abstract: Milton Friedman had long declared himself a small “l” libertarian (to distinguish himself from members of the Libertarian Party). But, libertarianism is based on the twin pillars of the non aggression axiom and private property predicated on homesteading and peaceful exchange. Friedman adopts none of this. Instead, he undergirds his philosophy on “tolerance,” which is no part of libertarianism. Thus, his claim to the mantle of libertarianism, big or small “L” it matters not which, is called into question.