economic liberals

Examples of economic liberals in the following topics:

• Capitalism

  • Economists usually focus on the degree that government does not have control over markets (laissez-faire economics), and on property rights.
  • Capitalism is generally viewed as encouraging economic growth.
  • A number of political ideologies have emerged in support of various types of capitalism, the most prominent being economic liberalism.
  • However, in the 20th century, capitalism also accompanied a variety of political formations quite distinct from liberal democracies, including fascist regimes, absolute monarchies, and single-party states.
  • Examine the different views on capitalism (economical, political and historical) and the impact of capitalism on democracy

• Liberalism

  • At that time conservatives adopted the Classic Liberal beliefs in protecting economic civil liberties.
  • Neither ideology adopted the pure Classical Liberal belief that government exists to protect both social & economic civil liberties.
  • Novak, liberalism in the United States shifted in the late 19th and early 20th century from classical liberalism (endorsing laissez-faire economics and constitutionalism) to "democratic social-welfarism" (endorsing such government involvement as seen in the New Deal).
  • Roosevelt, whereas in Europe it is more commonly associated with a commitment to limited government and laissez-faire economic policies. " Consequently in the U.S., the ideas of individualism and laissez-faire economics previously associated with classical liberalism, became the basis for the emerging school of right wing libertarian thought.
  • The early waves of liberalism popularized economic individualism while expanding constitutional government and parliamentary authority.

• Conservatism

  • Liberal conservatism is a variant of conservatism that combines conservative values and policies with classical liberal stances.
  • Historically, the term referred to combination of economic liberalism, which champions laissez-faire markets, with the classical conservatism concern for established tradition, respect for authority, and religious values.
  • It contrasted itself with classical liberalism, which supported freedom for the individual in both the economic and social spheres.
  • Fiscal conservatism is the economic philosophy of prudence in government spending and debt.
  • As such, national conservatives can be distinguished from economic conservatives, for whom free market economic policies, deregulation, and fiscal conservatism are the main priorities.

• Political Ideology

  • The ideological position a person or party takes may be described in terms of what kinds of social and economic policies they would like to see implemented.
  • American conservatism commonly refers to a combination of economic liberalism and social conservatism and to an extent, libertarianism.
  • Even though liberals as a whole tend to be the most educated ideological demographic (as indicated by Pew research), moderates tend to become increasingly conservative with increased economic prosperity, causing the professional class to be split between Republicans and Democrats.
  • Libertarians commonly hold liberal views on social issues but conservative views on economic issues.
  • Within the left are the largely secular and anti-war "Liberals", the socially conservative but economically left "Conservative Democrats", and the economically "Disadvantaged Democrats" who favor extended government assistance to the needy.

• From Protectionism to Liberalized Trade

  • The act, which quickly led to foreign retaliation, contributed significantly to the economic crisis that gripped the United States and much of the world during the 1930s.
  • Following World War II, many U.S. leaders argued that the domestic stability and continuing loyalty of U.S. allies would depend on their economic recovery.
  • U.S. aid was important to this recovery, but these nations also needed export markets -- particularly the huge U.S. market -- in order to regain economic independence and achieve economic growth.
  • The United States supported trade liberalization and was instrumental in the creation of the General Agreement on Tariffs and Trade (GATT), an international code of tariff and trade rules that was signed by 23 countries in 1947.
  • The Uruguay Round, so named because it was launched at talks in Punta del Este, Uruguay, liberalized trade further in the 1990s.

• The Democratic Party

  • The Democratic Party is a major political party in the US which promotes a social liberal, social democratic and progressive platform.
  • Since the 1930s, the party has promoted a social liberal, social democratic and progressive platform, and its Congressional caucus is composed of progressives, liberals, centrists, and left-libertarians.
  • Since 1912, the Democratic Party has moved to the left of the Republicans on economic and social issues.
  • Roosevelt's economic philosophy strongly influenced American liberalism and has shaped much of the party's economic agenda since 1932.
  • Since the 1890s, the Democratic Party has favored liberal positions ("liberal" in this case meaning social liberalism).

• Current U.S. Trade Agenda

  • Despite some successes, efforts to liberalize world trade still face formidable obstacles.
  • The United States also is seeking trade liberalization agreements with Asian countries through the Asia-Pacific Economic Cooperation (APEC) forum; APEC members reached an agreement on information technology in the late 1990s.
  • -Europe trade issues in the Transatlantic Economic Partnership.
  • A 1997 program called the Partnership for Economic Growth and Opportunity for Africa aims to increase U.S. market access for imports from sub-Saharan countries, provide U.S. backing to private sector development in Africa, support regional economic integration within Africa, and institutionalize government-to-government dialogue on trade via an annual U.S.
  • Despite this widespread effort to liberalize trade, political opposition to trade liberalization was growing in Congress at the end of the century.

• From Political Values to Ideology

  • Core American political values general fall in line with one of three political ideologies: liberalism, conservatism, or moderate.
  • Capitalist economic values are also a part of American values.
  • People who value change and a greater emphasis on collective equality tend to relate to the ideology of liberalism.
  • Liberals support more government intervention to promote economic equality, and believe the government should have more of a say in peoples' lives.
  • Moderates hold an ideology somewhere in between liberalism and conservatism.

• Introduction to Foreign Trade and Global Economic Policies

  • U.S. foreign trade and global economic policies have changed direction dramatically during the more than two centuries that the United States has been a country.
  • But since the Great Depression of the 1930s and World War II, the country generally has sought to reduce trade barriers and coordinate the world economic system.
  • This commitment to free trade has both economic and political roots; the United States increasingly has come to see open trade as a means not only of advancing its own economic interests but also as a key to building peaceful relations among nations.
  • Congress for trade liberalization in the 1980s and 1990s.
  • Congress also grew reluctant to give the president a free hand to negotiate new trade liberalization agreements with other countries.

• Fours Schools of Economic Thought: Classical, Marxian, Keynesian, and the Chicago School.

  • Mainstream modern economics can be broken down into four schools of economic thought: classical, Marxian, Keynesian, and the Chicago School.
  • Mainstream modern economics can be broken down into four schools of economic thought:
  • Classical economics, also called classical political economy, was the original form of mainstream economics in the 18th and 19th centuries.
  • Anders Chydenius (1729–1803) was the leading classical liberal of Nordic history.
  • A Finnish priest and member of parliament, he published a book called The National Gain in 1765, in which he proposed ideas about the freedom of trade and industry, explored the relationship between the economy and society, and laid out the principles of liberalism.