Find out from the following, what economic liberalism stood for. (i) Abolition of state-imposed restrictions on the movement of goods and capital (ii) End of autocracy and clerical privileges (iii) Freedom for the individual and equality of all (iv) Freedom of markets
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Economic liberalism stood for (iv) Freedom of markets
- Economic Liberalism is a policy that favors freedom of markets, the right to personal properties, and free trade.
- The role and influence of government are limited.
- The economy's progress is based on competition among companies to bring the best product at the most affordable price and the self-interest of business people.
- Economic liberalism also has the provision for 'public services' provided by the government.
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