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By definition, a liberal democracy implies that power is not concentrated. One criticism is that this could be a disadvantage for a state in wartime, when a fast and unified response is necessary. The legislature usually must give consent before the start of an offensive military operation, although sometimes the executive can do this on its ...
Economic liberalism is a much broader concept than fiscal liberalism, which is called fiscal conservatism or economic libertarianism in the United States. [12] The ideology that highlighted the financial aspect of economic liberalism is called fiscal liberalism, which is defined as support for free trade .
Economic liberalization, or economic liberalisation, is the lessening of government regulations and restrictions in an economy in exchange for greater participation by private entities. In politics, the doctrine is associated with classical liberalism and neoliberalism .
The diversity of liberalism can be gleaned from the numerous qualifiers that liberal thinkers and movements have attached to the term "liberalism", including classical, egalitarian, economic, social, the welfare state, ethical, humanist, deontological, perfectionist, democratic, and institutional, to name a few. [64]
Modern liberalism, often referred to simply as liberalism, is the dominant version of liberalism in the United States.It combines ideas of civil liberty and equality with support for social justice and a mixed economy.
In the United States, classical liberalism, also called laissez-faire liberalism, [92] is the belief that a free-market economy is the most productive and government interference favors a few and hurts the many—or as Henry David Thoreau stated, "that government is best which governs least". Classical liberalism is a philosophy of ...
To deepen and enrich the pluralist conquests of liberal democracy, the articulation between political liberalism and individualism must be broken, to make possible a new approach to individuality that restores its social nature without reducing it to a simple component of an organic whole.
Economic democracy (sometimes called a democratic economy [1] [2]) is a socioeconomic philosophy that proposes to shift ownership [3] [4] [5] and decision-making power from corporate shareholders and corporate managers (such as a board of directors) to a larger group of public stakeholders that includes workers, consumers, suppliers, communities and the broader public.