economy

• Paragraph 1: AGREE

  • Both classical and modern liberals support a capitalist economy based on competition, ambition, and private property.
  • Classical liberals argue capitalism aligns with innate self-seeking human nature and meritocracy, allowing individuals to maximize choice and succeed through hard work.
  • Locke’s natural rights (life, liberty, property) justify capitalism as a natural order.
  • Friedan: Capitalism supports gender equality; hard work ensures rewards, regardless of sex.Key Thinkers: John Locke, Betty Friedan.
• Paragraph 2: DISAGREE (Economic Management)

  • Classical liberals advocate laissez-faire economics: no state intervention, free trade, and minimal regulation. Hayek: Humans are rational; state control hinders egoistical individualism.
  • Adam Smith: The invisible hand ensures economic success without state interference.
  • Modern liberals (Keynes): The free market isn’t self-regulating; state dirigisme is needed to prevent unemployment and economic slumps, ensuring stability and individual freedom.Key Thinkers: Friedrich Hayek, Adam Smith, John Maynard Keynes.
• Paragraph 3: DISAGREE (Taxation and Welfare)

  • Classical liberals oppose taxation and welfare, seeing it as theft of private property and a cause of dependency culture. Smith: Wealth trickles down naturally without state intervention.
  • Modern liberals support redistribution and a welfare state to ensure equality of opportunity. Rawls: Behind the veil of ignorance, individuals would choose a society where the worst-off are supported, ensuring fairness and economic prosperity.Key Thinkers: Adam Smith, John Rawls.
• Conclusion

  • Liberals agree on capitalism and private property but disagree on economic management.
  • Classical liberals favor laissez-faire, minimal taxation, and no welfare, prioritizing egoistical individualism.
  • Modern liberals support state intervention, redistribution, and welfare to ensure equality of opportunity and developmental individualism.Key Thinkers: Locke, Hayek, Smith, Keynes, Rawls.