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An economy that is managed according to these precepts may be described as a liberal economy or operating under liberal capitalism. Economic liberals commonly adhere to a political and economic philosophy that advocates a restrained fiscal policy and a balanced budget through measures such as low taxes, reduced government spending, and ...
In liberal democracy, an elected government cannot discriminate against specific individuals or groups when it administers justice, protects basic rights such as freedom of assembly and free speech, provides for collective security, or distributes economic and social benefits. [35]
Freedom from want could justify positive government action to meet economic needs, an idea more associated with the concepts of Abraham Lincoln's Republican Party, Henry Clay's Whig Party and Alexander Hamilton's economic principles of government intervention and subsidy than the more radical socialism and social democracy of European thinkers ...
K. J. Ståhlberg (1865–1952), the first President of the Republic of Finland, defined Finland's anchoring as a country defending liberal democracy. [78] Ståhlberg at his office in 1919. The worldwide Great Depression, starting in 1929, hastened the discrediting of liberal economics and strengthened calls for state control over economic affairs.
Liberal economic beliefs include support for a mixed economy that uses a capitalist system maintained with economic interventionism and regulation, as well as opposition to both laissez-faire capitalism and socialism as means to distribute economic resources. Keynesian economics commonly factor into liberal
[1] [2] Liberals espouse various and often mutually warring views depending on their understanding of these principles but generally support private property, market economies, individual rights (including civil rights and human rights), liberal democracy, secularism, rule of law, economic and political freedom, freedom of speech, freedom of ...
Anna Moneymaker/GettyIn a recent New York Times/Siena College poll, Americans expressed concerns about the stability of democracy, but still ranked their economic security as a higher priority.
Liberals espouse various and often mutually warring views depending on their understanding of these principles but generally support private property, market economies, individual rights (including civil rights and human rights), liberal democracy, secularism, rule of law, economic and political freedom, freedom of speech, freedom of the press ...