Economy

Question 1

Liberalism

Answer 1

Capitalism so everyone is free, liberalism developed with capitalism
Private property is necessary so you could identify yourself eg the clothes you wear, what you want to buy
Low taxation s it takes money you have worked for

Question 2

Classical liberalism

Answer 2

Classical liberalism :
Laissez faire - if individuals are left to pursue self interest then the market will be efficiently guided by the invisible hand
Negative rights- property is a natural right - the private ownership of land, factories etc will enrich the entire nation
Lower levels of taxation - punishes hard work and success and should be used to fund a minimum . nightwatchman state

Question 3

Modern liberalism

Answer 3

Modern liberalism :
Keynesian economics - the gov should manage demand to keep unemployment low and promote freedom
Positive rights - redistribution is necessary to promote positive freedom and substantive equality of opportunity
Society contributes much to wealth creation- taxation isn’t redistribution its society taking its fair share of its contribution