Does "Left" or "Right" Make Any Sense For the Libertarian?

In a 1956 article in Ideas on Liberty, Leonard E. Reed makes the case that libertarians are neither leftist nor rightist. He writes, "'Left' and 'Right' are each descriptive of authoritarian positions. Liberty has no horizontal relationship to authoritarianism. Libertarianism’s relationship to authoritarianism is vertical; it is up from the muck of men enslaving man. But, let’s begin at the beginning."