Liberalism Flashcards
what is the classical view on taxes etc..?
low taxes, low or no tariff, few regulations on businesses
why do classical liberals like low taxes etc?
view state as a necessary evil.˙. small state which doesn’t require a lot of money
why do liberals believe in a small state ?
- humans are rational - ability to make their own decisions
- should be able to resolve disputes through peaceful discussion/debate
what is the modern view on taxes etc..?
high tax systems, many laws on businesses, high minimum wage laws
why do modern liberals like high taxes etc?
state to provide welfare
why do modern liberals want the state to provide welfare?
helps to provide foundational equality and developmental individualism
what did T.H.Green say about the state?
achieving one’s potential + personal development (fulfilment) with state help + intervention
in terms of the economy, what do both modern and classic liberals agree on?
progressive taxation
why do they both agree on progressive taxation ?
- helps foundational equality
- only pay as means allow
what fundamental concepts do they both agree on?
private ownership and capitalism
why do they agree on private ownership?
- supreme importance of the individual leads logically to a commitment to individual
- individuals should be able to make their own decisions
what kind of economy do classical advocate
laissez-faire, free market capitalism
why do classicals favour free market capitalism
they value negative freedoms, especially from the state
what did John Stuart Mill say?
‘harm principle’ - individuals should be free to do anything except harm other individuals
what did Thomas Jefferson say?
‘government is best which governs least’
