What are Libs for?

[gunmetal]

I was just curious becuase when i downloaded Tal's distro i didnt have a lib folder, and i think i remember copy and pasting one from a tutorial on a specific script, but what are they really for? are they important? can they cause bugs in functions?

 

[Limos]

Libs are basicly for (adding) extra functions or alternatives to functions/codes. TFS 0.2 uses the global.lua for that.