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Neoliberalism. Economic freedom, or economic liberty, refers to the agency of people to make economic decisions. This is a term used in economic and policy debates as well as in the philosophy of economics. [1][2] One approach to economic freedom comes from the liberal tradition emphasizing free markets, free trade, and private property.
The freedom of choice on which brand and flavor of soda to buy is related to market competition. In microeconomics, freedom of choice is the freedom of economic agents to allocate their resources (such as goods, services, or assets) as they see fit, among the options that are available to them. [10][11] It includes the freedom to engage in ...
In the text of 1689, he established the basis of liberal political theory, i.e. that people's rights existed before government; that the purpose of government is to protect personal and property rights; that people may dissolve governments that do not do so; and that representative government is the best form to protect rights. [144]
Among personal rights are associated rights to protect and safeguard the body, most obviously protected by the torts of assault and battery. Furthermore, aspects of personality are protected, such as a person's reputation and honour, by the tort of defamation, and legislation protecting the privacy of individuals, and freedom of movement.
The Universal Declaration on Human Rights (UDHR), adopted by the UN General Assembly in 1948, is one of the most important sources of economic, social and cultural rights. . It recognizes the right to social security in Article 22, the right to work in Article 23, the right to rest and leisure in Article 24, the right to an adequate standard of living in Article 25, the right to education in ...
Capitalism and Freedom. Capitalism and Freedom is a book by Milton Friedman originally published in 1962 by the University of Chicago Press which discusses the role of economic capitalism in liberal society. It has sold more than half a million copies since 1962 and has been translated into eighteen languages.
Freedom of contract is the process in which individuals and groups form contracts without government restrictions. This is opposed to government regulations such as minimum-wage laws, competition laws, economic sanctions, restrictions on price fixing, or restrictions on contracting with undocumented workers.
In contrast, while condemning governmental encroachment on personal liberties, some modern American libertarians support freedoms based on private property rights. Anarcho-capitalist theorist Murray Rothbard argued that protesters should rent a street for protest from its owners. The abolition of public amenities is a common theme in some ...