He brings up several good points. For example:
(E)ach party, in an effort to win 50% of the population's votes in every election, in every district, in every state, among every race, gender, industry, and income group, has had to turn itself into a big tent coalition consisting of individually self-interested and organized components. In effect, both parties resemble the multi-party parliamentary coalition governments of Europe. The only difference is that the coalitions must be formed up before the election and are very stable for that reason. But other than that, they even function like coalition governments once in office. One interest group is promised trade policy, another gets dibs on civil rights law, a third is given farm policy, and so on. The subparties even threaten to leave the coalitions when ignored or hungry for more power: Reagan Democrats, Southern Dixiecrats, Buchananite Republicans etc.
Basically what he's saying is that, because of the entrenched nature of the two party system we have today, Libertarians at best generally collect a small portion of the vote and, at worst, siphon votes from the Republican candidate which results in a Democrat victory. He proposes an alternate way:
All it will take is for the Libertarians of this country to start thinking of themselves as The Libertarian Party and Caucus, rather than solely as The Libertarian Party. Like the National Rifle Association, the American Civil Liberties Union, Labor Unions, and a gaggle of lobbying interests, the Libertarians of this country can leverage their dedication into an influence well beyond their numbers by forcing the two great coalition parties to begin competing for their votes, campaign work, and donations. The Libertarian Party can still run candidates under its own flag, but it can also begin acknowledging candidates of Libertarian beliefs running under other flags. Think of it as a Two and a Half Party system.
He fleshes it out quite a bit more so go read the whole thing.
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