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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]
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 .
In Europe, liberalism usually means what is sometimes called classical liberalism, a commitment to limited government, laissez-faire economics. This classical liberalism sometimes more closely corresponds to the American definition of libertarianism, although some distinguish between classical liberalism and libertarianism. [41]
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. [ 49 ]
Economic liberalization also often involves reductions of taxes, social security, and unemployment benefits. Economic liberalization is often associated with privatization , which is the process of transferring ownership or outsourcing of a business, enterprise, agency, public service or public property from the public sector to the private ...
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 ...