Liberalism Differing Views & Tensions
- Created by: maddyreilly
- Created on: 20-09-19 09:59
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- Differing Views & Tensions (Liberalism)
- Classical Liberals
- opposed to an expansion in the role of the state.
- social problems should be solved by market forces
- privatisation of essential public services
- Modern Liberals
- against free-market capitalism
- many individuals not being free
- Keynesianism
- against free-market capitalism
- freedom
- Modern Liberals = Positive Freedom
- Classical Freedom = Negative Freedom
- Role of the State
- According to Mill, the laissez-faire economic system is consistent with liberal notions of free exchange of labour and the importance of consumer choice
- his support for worker co-operatives and an enabling role for the state.
- Harm Principle
- individual is free to engage in self-regarding actions.
- sanction may be imposed when such actions impinge upon the freedom of others.
- "The only purpose for which power can be rightfully exercised over any member of a civilised community, against his will, is to prevent harm to others.” - Mill
- individual is free to engage in self-regarding actions.
- Individualism vs. Constructivism
- Modern Constructivism
- create new rights via an enabling state
- Classical Individualism
- limitations placed upon the state
- Modern Constructivism
- Egoistical & Developmental Individualism
- Classical = Egoistical Individualism
- Individuals aim to satisfy their own wants and needs.
- Modern = Developmental Indvidualism
- less atomised view. desire to live in harmony with one another.
- Classical = Egoistical Individualism
- Keynesianism
- Keynes rejected the argument that the market is a self-correcting mechanism naturally inclined towards reaching a state of equilibrium.
- State intervention is therefore necessary to prevent the collapse of capitalism.
- State intervention is therefore necessary to prevent the collapse of capitalism.
- Keynes rejected the argument that the market is a self-correcting mechanism naturally inclined towards reaching a state of equilibrium.
- Laissez-Faire Capitalism
- capitalist economic system, which may be defined as an economic system based upon private ownership and market forces.
- It has long been a fundamental tenant of classical liberalism that free trade raises living standards for all.
- Classical Liberals
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