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