CLASSICAL LIBERALISM

NATURAL RIGHTS
1. JEFFERSON
  1. Life, Liberty and Happiness
  2. Argues that government is best which governs least.
2. LOCKE
  1. Life, Liberty and Property
3. Rights are entitlements.
  1. Natural Rights are God-given rights.
    1. Jefferson argues that natural rights are unalienable. Why? Because as we are born humans we have an automatic entitlement to these rights.
4. Government should protect our natural rights. They should do simply this as well as protect our freedoms, thus should not exceed any of their roles:
  1. Should make sure contracts are enforced
  2. Property should be protected and orderly existence should be established
  3. Common defence should be provided against external attack
UTILITARIANISM
1. Jeremy Bentham
  1. Called Natural Rights = nonsense on stilts.
    1. Believed in concept of utility = the maximisation of pleasure through the consumption of material goods.
      1. Utility is also regarded to be a moral principle
        Policies, institutions etc. should be based on utility (how much happiness it causes to people)
        E.g. 18th Amendment (Prohibition of Alcohol) - in terms of utility would be considered to be morally wrong.
    2. Why? Because they do not provide individuals with stability. They are simply there and make us believe we are more worthy then they are. Utility is better as it truly captures how people are motivated by pleasure.
2. James Mill
ECONOMIC LIBERALISM
1. NEOLIBERALISM
  1. Revival of economic Liberalism in 70's
    1. Thatcher and Reagan
      1. E.L based on market fundamentalism; the extreme belief in the market, arguing that the market can provide solutions to all our social and economic problems - such as unemployment
      2. Unlike Smith, Neoliberals failed to realise fault in market (extreme belief), they viewed the govt more at fault - WHY? some government personnel, although sufficient they were not qualified to understand the complexities of the market. (Hayek) Thus government should be completely free from any govt interference. (Friedman) critiqued keynesian economics (promoted by govt) as it simply encouraged tax and spend and caused inflation however didn't tackle issues such as unemployment
        Absolute faith in the market
        Naturally efficient and productive, can respond to our demands on a macroeconomic level by putting resources to their most profitable use.
2. Adam Smith
  1. disagreed with this idea of mercantilism
    1. Mercantilism = government intervention is encouraged in order to achieve general prosperity
  2. Believed that market should regulate themselves in order to achieve general prosperity.
    1. Government should be the 'invisible hand'
      1. Locke argued that government should be like a 'nightwatchman'
    2. Should be run by independent market regulators.
  3. The Wealth of Nations
  4. Links to the idea of rationality; we are rational beings who have initiative are capable of enterprise, thus govt. intervention is not needed
    1. We can create an economy/market that is beneficial to us and responds to our demands.
3. Laissez-Faire - French for Leave to Do also holds this belief in a 'free market' free from govt intervention
SOCIAL DARWINISM
1. HERBERT SPENCER.
  1. Used Charles Darwins evolutionary theory and natural selection which suggests we had undergone various mutations, some beneficial in aiding us to survive. Spencer uses this idea in a social context arguing that society is based on survival of the fittest and the most competitive will thrive (particularly in a capitalist society)
2. SAMUEL SMILES
  1. Self Help
    1. Heaven helps those who helps themselves.
3. RICHARD COBDEN
  1. Economist; supported working class conditions, however he believed they could only better their conditions by turning to themselves and own efforts and not the efforts of Parliament.
4. Belief in meritocracy, working hard to achieve and better ones self.

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CLASSICAL LIBERALISM

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