Liberal views on economy Flashcards
1
Q
Classical Liberals
A
Favour Laissez-faire approach to the economy
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
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
4
Q
John Locke - quote
A
“The labour of his body and the work of his hands are properly his”
5
Q
J.S Mill - quote
A
“To tax larger incomes at higher percentage than the smaller, is to lay a tax on industry”