Classical Liberalism
The only way to live!Classical Liberalism is an economic theory that developed out of the Renaissance and the Age of Enlightenment. It is a new idea about how to deal with resources in a society plus the wants and needs of humans.The idea of Classical Liberalism lead to the development of the economic system: capitalism.
Individuals are given more freedom to control society including the economic system…the government’s role is to protect the
Lorem IpsumThe French people rise up against the authoritarian monarchy (AKA: dictating king)
French Revolution
of authority.than traditional lines
Western Europe emphasized reason, analysis, and individualism rather
intellectual forces in Cultural and
Renaissance means re-birth
17 th -18 th Century Enlightenment
thinking. The new ways of diplomacy and conventions of of the development the contributed Renaissance In politics, the Renaissance14 th -17 th Century History
Merchants complain about government restrictionsbelieved that the economy should be
Liberal Movement (classical liberalism)
Success in Europe = spread throughout the world
= new labor / markets
population explosion
resourcesnew markets / transportation = RevolutionIndustrial
growthand material work, thrift value of hard
ReformationProtestant
PROS OF CLASSICAL LIBERALISM
Liberalism… With Classical
And guy!Mistakes?
to make your own… money? Decisions? Haven’t you always wanted to be free IT’S ALL ABOUT THAT…FREEDOM!
enclosure acts!Faster methods
property with land and Buy and own
initiative!Be in charge of your own life! Take
Choose your own job, spouse, and interests!
Succeed on your own!and your money.controlling your land, your time, Break free from the government
Adam Smith: Liberal Thinker
laissez-faire (AKA: “let them be”)ensure competition, maintain law and order and protect individual property rights
government should interfere only to protect the country against foreign enemies, invisible hand
their individual actions would automatically work for the betterment of society no need to plan the economy; if people free to pursue own self-interest, the sum of laws and restrictions hindered, rather than promoted economic growth strength of nations rested on goods produced, not gold