Liberal views on economy Flashcards

1
Q

Classical Liberals

A

Favour Laissez-faire approach to the economy

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2
Q

Modern Liberals

A

Unregulated free markets can cause issues and are supportive of state intervention to curb excesses of market economy, social justice

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3
Q

John Rawls

A

Supportive of progressive taxes as inequalities in the ownership and control of wealth, income and property can reduce the fair value of basic liberties

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4
Q

John Locke - quote

A

“The labour of his body and the work of his hands are properly his”

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5
Q

J.S Mill - quote

A

“To tax larger incomes at higher percentage than the smaller, is to lay a tax on industry”

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