Classical liberalism

This article is about the branch of liberalism that advocates civil liberties with an emphasis on economic freedom. For the liberal economic system organized on individual lines, see Economic liberalism. For the branch of liberalism that endorses a regulated market economy and the expansion of civil and political rights, see Social liberalism.

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Classical liberalism is a political tradition and a branch of liberalism that advocates free market and laissez-faire economics and civil liberties under the rule of law, with special emphasis on individual autonomy, limited government, economic freedom, political freedom and freedom of speech.[1] Classical liberalism, contrary to liberal branches like social liberalism, looks more negatively on social policies, taxation and the state involvement in the lives of individuals, and it advocates deregulation.[2]

Until the Great Depression and the rise of social liberalism, classical liberalism was called economic liberalism. Later, the term was applied as a retronym, to distinguish earlier 19th-century liberalism from social liberalism.[3] By modern standards, in the United States, the bare term liberalism often means social liberalism, but in Europe and Australia, the bare term liberalism often means classical liberalism.[4][5]

Classical liberalism gained full flowering in the early 18th century, building on ideas dating at least as far back as the 16th century, within the Iberian, British, and Central European contexts, and it was foundational to the American Revolution and "American Project" more broadly.[6][7][8] Notable liberal individuals whose ideas contributed to classical liberalism include John Locke,[9] Jean-Baptiste Say, Thomas Malthus, and David Ricardo. It drew on classical economics, especially the economic ideas espoused by Adam Smith in Book One of The Wealth of Nations, and on a belief in natural law.[10] In contemporary times, Friedrich Hayek, Milton Friedman, Ludwig von Mises, Thomas Sowell, George Stigler, Larry Arnhart, Ronald Coase and James M. Buchanan are seen as the most prominent advocates of classical liberalism.[11][12] However, other scholars have made reference to these contemporary thoughts as neoclassical liberalism, distinguishing them from 18th-century classical liberalism.[13][14]

In the context of American politics, "classical liberalism" may be described as "fiscally conservative" and "socially liberal".[15] Despite this, classical liberals tend to reject the right's higher tolerance for economic protectionism and the left's inclination for collective group rights due to classical liberalism's central principle of individualism.[16] Additionally, in the United States, classical liberalism is considered closely tied to, or synonymous with, American libertarianism.[17][18]

  1. ^ "Classical liberalism". www.britannica.com. Encyclopædia Britannica. 6 September 2023. Retrieved 17 October 2023.
  2. ^ M. O. Dickerson et al., An Introduction to Government and Politics: A Conceptual Approach (2009) p. 129
  3. ^ Richardson, p. 52.
  4. ^ Goldfarb, Michael (20 July 2010). "Liberal? Are we talking about the same thing?". BBC News. Retrieved 6 August 2020.
  5. ^ Greenberg, David (12 September 2019). "The danger of confusing liberals and leftists". The Washington Post. Retrieved 6 August 2020.
  6. ^ Douma, Michael (2018). What is Classical Liberal History?. Lexington Books. ISBN 978-1-4985-3610-3.
  7. ^ Dickerson, Flanagan & O'Neill, p. 129.
  8. ^ Renshaw, Catherine (18 March 2014). "What is a 'classical liberal' approach to human rights?". The Conversation. Retrieved 12 August 2022.
  9. ^ Steven M. Dworetz (1994). The Unvarnished Doctrine: Locke, Liberalism, and the American Revolution.
  10. ^ Appleby, Joyce (1992). Liberalism and Republicanism in the Historical Imagination. Harvard University Press. p. 58. ISBN 978-0674530133.
  11. ^ Dilley, Stephen C. (2 May 2013). Darwinian Evolution and Classical Liberalism: Theories in Tension. Lexington Books. pp. 13–14. ISBN 978-0-7391-8107-2.
  12. ^ Peters, Michael A. (16 April 2022). "Hayek as classical liberal public intellectual: Neoliberalism, the privatization of public discourse and the future of democracy". Educational Philosophy and Theory. 54 (5): 443–449. doi:10.1080/00131857.2019.1696303. ISSN 0013-1857. S2CID 213420239.
  13. ^ Mayne, Alan James (1999). From Politics Past to Politics Future: An Integrated Analysis of Current and Emergent Paradigmss. Westport, Connecticut: Greenwood Publishing Group. pp. 124–125. ISBN 0275961516.
  14. ^ Ishiyama, John T.; Breuning, Marijke; et al. (Ellen Grigsby) (2011). "Neoclassical liberals". 21st Century Political Science A Reference Handbook. SAGE Publications, Inc. pp. 596–603. ISBN 978-1-4129 6901-7.
  15. ^ Wright, Edmund, ed. (2006). The Desk Encyclopedia of World History. New York: Oxford University Press. p. 370. ISBN 978-0-7394-7809-7.
  16. ^ Goodman, John C. "Classical Liberalism vs. Modern Liberalism and Modern Conservatism". Goodman Institute. Retrieved 2 January 2022.
  17. ^ "Libertarianism vs. Classical Liberalism: Is there a Difference?". Reason.com. 6 April 2023. Retrieved 22 September 2023.
  18. ^ Klein, Daniel B. (3 May 2017). "Libertarianism and Classical Liberalism: A Short Introduction | Daniel B. Klein". fee.org. Retrieved 8 March 2022.