Classical Liberalism

Subdecks (2)

Cards (11)

  • Negative freedom is the freedom from external constraints, such as the law, that limit our behaviour.
  • Classical liberals believe that negative freedom allow the individual the widest freedom to pursue their own rational interest
  • Egotistical individualism is the belief that individuals are driven by self-interest and personal autonomy. It highlights the significance of personal freedom
  • Believe that a minimal ‘night-watchman’ state to protect rights and freedoms and do not get involved in people’s private lives
  • What are classical liberal’s view on society?
    Atomistic view: merely a collection of self-seeking individuals
  • What are the natural rights?
    Life, liberty, and property.
  • What was the classical liberal’s view on the economy?
    Laissez-Faire Capitalism: Free market and private property with no state intervention
  • Adam Smith argued that the ‘individual hand’ of the market forces had a limitless capacity to enrich society and enrich individuals within it.
  • What is trickle down economy?
    Economic theory that benefits for the wealthy will eventually "trickle down" to the rest of society.
  • Liberals believe that checks and balances are necessary to prevent the government from becoming too powerful