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Economic liberalism is a much broader concept than fiscal liberalism, which is called fiscal conservatism or economic libertarianism in the United States. [12] The ideology that highlighted the financial aspect of economic liberalism is called fiscal liberalism, which is defined as support for free trade .
Classical liberalism is a political tradition and a branch of liberalism that advocates free market and laissez-faire economics and civil liberties under the rule of law, with special emphasis on individual autonomy, limited government, economic freedom, political freedom and freedom of speech. [41]
Market liberalism is used in two distinct ways. In the United States, the term is used as a synonym to classical liberalism . [ 1 ] In this sense, market liberalism depicts a political ideology , combining a market economy with personal liberty and human rights in contrast to social liberalism , which combines personal liberty and human rights ...
Economic liberalization, or economic liberalisation, is the lessening of government regulations and restrictions in an economy in exchange for greater participation by private entities. In politics, the doctrine is associated with classical liberalism and neoliberalism .
Classical liberalism is a political tradition and a branch of liberalism that advocates free market and laissez-faire economics and civil liberties under the rule of law, with special emphasis on individual autonomy, limited government, economic freedom, political freedom and freedom of speech. [1]
Unrelated to the economic philosophy, neoliberalism is used to describe a centrist political movement from modern American liberalism in the 1970s. According to political commentator David Brooks , prominent neoliberal politicians included Al Gore and Bill Clinton of the Democratic Party. [ 40 ]
[5] [6] Political economy in its modern form is considered an interdisciplinary field, drawing on theory from both political science and modern economics. [4] Political economy originated within 16th century western moral philosophy, with theoretical works exploring the administration of states' wealth; political signifying the Greek word ...
T. H. Green, an influential liberal philosopher who established in Prolegomena to Ethics (1884) the first major foundations for what later became known as positive liberty and in a few years, his ideas became the official policy of the Liberal Party in Britain, precipitating the rise of social liberalism and the modern welfare state (from ...