Classical Liberalism Overview and Influences

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Questions and Answers

What is Classical Liberalism?

The belief that the unrestricted action of the individual is the mainspring of all progress; to rely on the individual.

What led to the development of Classical Liberalism? (Select all that apply)

Protestant theology emphasizing individual responsibility (correct)

Advancements in technology

Agriculture/guild system breakdown (correct)

The age of reason (correct)

Who wrote 'Second Treatise of Civil Government'?

John Locke

What did Montesquieu call for in 'The Spirit of the Laws'?

Separation of Powers Signup and view all the answers

Who is known as the economist that advocated for the market economy?

Adam Smith Signup and view all the answers

What is the 'Invisible Hand' according to Adam Smith?

The market economy's ability to regulate itself without government intervention. Signup and view all the answers

What is free trade?

Trade unrestrained by taxes, monopolies, or restrictions on imports and exports. Signup and view all the answers

What does it mean that the economy is driven by self-interest?

Goods are available due to the self-interest of the makers, not the benevolence of others. Signup and view all the answers

Who founded utilitarianism?

Jeremy Bentham Signup and view all the answers

What is a key principle of utilitarianism?

Only policies that work well and contribute to human progress and happiness are worth pursuing. Signup and view all the answers

What does 'the greatest good to the greatest number' mean?

Actions should benefit the majority of people. Signup and view all the answers

What is laissez-faire?

An economic policy of leaving people alone to pursue their own self-interest. Signup and view all the answers

What did Thomas Malthus write about?

He wrote 'Essay on the Principle of Population.' Signup and view all the answers

What did David Ricardo argue for?

International trade and comparative advantage. Signup and view all the answers

What is the Law of Accumulation?

The building of more machines will create more capital. Signup and view all the answers

Who wrote 'On Liberty'?

John Stuart Mill Signup and view all the answers

What is the main argument in 'On Liberty'?

The fullest possible personal freedom should be allowed, with few limitations. Signup and view all the answers

Study Notes

Classical Liberalism Overview

Classical Liberalism emphasizes individual freedom as the driver of societal progress, advocating minimal government intervention in personal and economic matters.
It promotes the idea that allowing individuals to act freely leads to societal advancement.

Historical Influences on Classical Liberalism

Rooted in Protestant theology, stressing individual responsibility for salvation.
Shift from agriculture and guild systems created economic independence.
The Age of Reason fostered belief in human rationality, leading to optimism about human nature and governance.

Key Thinkers and Their Contributions

John Locke
- Authored "Second Treatise of Civil Government."
- Introduced the concept of government based on consent, individual rights protection, and separation of powers.
Montesquieu
- Wrote "The Spirit of the Laws."
- Advocated for constitutional government through the Separation of Powers to prevent concentration of power.
Adam Smith
- Considered the father of modern economics.
- Promoted market economy principles, arguing for individual freedoms and competition without government interference.
- Coined the term "invisible hand" in "The Wealth of Nations," advocating for market self-regulation.

Economic Principles

Free Trade
- Smith's approach to unimpeded trade avoids restrictions and promotes efficiency.
Self-Interest in Economic Transactions
- Economic activity is driven by self-interest, which leads to better resource allocation than government planning.

Philosophical Foundations

Jeremy Bentham
- Established utilitarianism, focusing on maximizing happiness and the overall welfare of society.
- Encouraged critical questioning of traditional ideas and policies based on their utility.
Utilitarianism
- Focuses on policies that enhance societal progress and happiness.
Greatest Good Principle
- Advocates for actions that benefit the majority as the best approach to governance.

Economic Policies and Theories

Laissez-faire Economics
- A doctrine promoting minimal government intervention, enabling individuals to pursue self-interest freely.
Thomas Malthus
- Authored "Essay on the Principle of Population," warning that improvements in living standards could lead to population surges, ultimately negating those gains.
David Ricardo
- Advocated for international trade based on comparative advantage to achieve optimal outcomes.

The Law of Accumulation

Describes how increased machinery investment leads to capital growth, promoting industrial productivity.

John Stuart Mill

A well-educated philosopher who synthesized ideas from Bentham and Smith.
Wrote "On Liberty," defending individual freedoms and the importance of diverse ideas in society.

"On Liberty" Highlights

Advocates for maximum personal freedom, stating that only harm to others justifies interference in individual liberties.
Emphasizes that society benefits when all ideas can be freely expressed and debated, underscoring the importance of tolerating unpopular opinions.

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Description

Explore the principles of Classical Liberalism and its historical roots. This quiz covers key thinkers like John Locke and Montesquieu, detailing their contributions and the significance of individual freedom in societal progress. Assess your understanding of how these ideas shaped modern governance.