Mises Economic Blog brings this debate into the blogosphere. Agree with them, this is a must read. Beware, don't confuse liberalism and libertarianism. Also, keep in mind that American conservatism/libertarianism are different with those of Europeans. Especially when it comes to economics. Why is Friedman "conservative" but libertarianically opposes big government? Political Compass may have some answer -- think about "liberal conservative".
Somehow, I am relieved that I don't need to resort on either one. I have my own principle and so far so good.