LIBERALISM AND THE ECONOMY Flashcards
1
Q
supports an economy that puts what first
A
Private Property
2
Q
strongly associate with what
A
Private enterprise and private ownership of the economy
3
Q
What type of economy do liberals like
A
Capitalism
4
Q
What is capitalism described as
A
Economic Liberalism
5
Q
Endorsement of capitalism is linked to what
A
Their optimistic view of Human Nature
6
Q
Who argued for Laissez-faire Economics
A
Adam Smith
7
Q
What did Adam Smith say about the economy
A
If obstacle to free trade were swept away the “invisible hand” of the market would guide traders to success and wealth would “trickle down” to everyone
