LIB economy

• Liberals advocate for capitalism and private enterprise
• Liberals oppose nationalisation
• Private possession and the pursuit of private ownership is a natural right
• Economic liberty is synonymous with general liberty
• Classical - laissez-faire economics as J.S. Mill suggests
• Classical - free markets, competition and little state intervention
• Classical - capitalism and free markets automatically lead to the creation of wealth
• Classical - individuals pursuing their enlightened self-interests in a free economy will naturally take advantage of free markets
• Classical - Locke said natural wealth is an outcome of labour and there should be no state intervention
• Classical - Adam Smith believe free markets would promote economic activity and wealth creation
• Modern - free market capitalism requires some regulation
• Modern - taxation is key to deliver positive freedoms
• Modern - Keynesiasm, state should intervene to stimulate the markets
• Modern - Wollstonecratf wanted women to be given economic independence
• Modern - Rawls believed the state has an obligation to aid disadvantaged citizens which would temper free market capitalism
• Modern - Rawls believed in progressive taxation
• Modern - Friedan believed economic equality would empower women, liberated women would be vital to free market capitalism, and advocated for workplace discrimination legislation