https://en.m.wikipedia.org/wiki/Libertarianism

Relevant part:

In the mid-20th century, American right-libertarian proponents of anarcho-capitalism and minarchism co-opted the term libertarian to advocate laissez-faire capitalism and strong private property rights such as in land, infrastructure and natural resources. The latter is the dominant form of libertarianism in the United States. This new form of libertarianism was a revival of classical liberalism in the United States, which occurred due to American liberals’ embracing progressivism and economic interventionism in the early 20th century after the Great Depression and with the New Deal.