Liberalism - Economy

Question 1

how do all liberals agree on a meritocracy?

Answer 1

believe in fundamental concepts of private ownership and capitalism

Question 2

why do liberals believe in a meritocracy?

Answer 2

if people work hard, the market will provide them with an opportunity to succeed

Question 3

why do liberals believe in private ownership?

Answer 3

if people work hard enough that can earn their own property

Question 4

how does freedom link to individualism?

Answer 4

• believe in supreme importance of the individual which logically leads to a commitment to the individual
• support meritocracy as it gives chance for individual to be free to succeed, if they want to

Question 5

how do liberals disagree on meritocracy?

Answer 5

disagree on level of meritocracy in economy

Question 6

how do classical liberals believe in a pure form of meritocracy?

Answer 6

• in form of laissez-faire capitalism

- view state as necessary eve and should not get involved in economy

Question 7

what kind of freedoms do classical liberals value from state?

Answer 7

negative freedoms, which leads them to free market capitalism

Question 8

what does John Stuart Mill argue?

Answer 8

‘harm principle’ - state should only internee to protect individuals against abuse of their own freedom by others

Question 9

what do modern liberals argue in terms of the state and the economy?

Answer 9

favour some state intervention in economy

Question 10

why do modern liberals believe state has right to get involved in economy?

Answer 10

they have mandate from people and people can overthrow them if they don’t like it

Question 11

how do modern liberals see flaws in capitalism?

Answer 11

• see flaws in capitalism and believe that the state intervention in necessary to minimise the effect of economic downturn
• argue laissez-faire capitalisme could lead to widespread unemployment and poverty in uncorrected

Question 12

what did John Rawls argue’?

Answer 12

‘property owning democracy’

Question 13

how do liberals agree on inequality and economy?

Answer 13

all believe should be some level of economic inequality

Question 14

why do all liberals believe in some level of economic inequality?

Answer 14

favour some degree of economic inequality as it motivates people to work harder and strive for better

Question 15

what is rationalism?

Answer 15

humans have the ability and right to change their own lives

Question 16

what do liberals believe inequality will lead to?

Answer 16

• better quality of work

- more productive society and more innovation

Question 17

what do classical liberals downplay the importance of?

Answer 17

society

Question 18

how do classic liberals view society?

Answer 18

see it primary as a collector of individuals, pursuing their own interest

Question 19

what kind of individualism do classic liberals proscribe?

Answer 19

Egotistical individualism

Question 20

what is ‘Egotistical individualism’?

Answer 20

Individuals are self-seeking and do whats in their best interest - lead to concept of foundational equality and formal equality

Question 21

what do modern liberals value in achieving social inequality?

Answer 21

state intervention and welfare as they proscribe developmental individualism

Question 22

what did John Rawls argue for in relation to the state?

Answer 22

an enabling state - believe that state should elbe the individual to develop

Question 23

how do modern liberals value society?

Answer 23

value society as worth more than sum of individual parts