What does the economic liberalism stand for?what were the obstacles for economic growth in early nineteenth century ?
Answers
Economic liberalism is a political and economic philosophy based on strong support for a market economy and private property in the means of production. Economic liberalism is associated with free markets and private ownership of capital assets.
Given below are some conditions:-
1)As the peasant suffers too much as because the landowners enjoys the privelege of feudal dues.
2)In that time many people are suffer due to unemployment as because the employment rate is decreasing.
3)At that time population was increasing day by day.
4)The government implemented the restrictions over the exchanging of goods from one place to another.
5)The workers who produces the products using handmade faced too much problem as because the product which is imported by other countries are cheap as compare the handmade.
6)In the 19th century, there was a strong demand of the rising middle classes.
7)In the German-speaking regions in the first half of the 19th century, Napoleon’s administrative measures created a confederation of 39 states, out of several small principalities. Each of these had its own currency, its own weights and measures.
8)Duties were generally levied according to the weights or measurement of the goods.
9)This was a time-consuming calculation, as each region had its own system of weights and measures
10)Such conditions were impediments to economic exchange and growth by the new commercial classes, who wanted the creation of a unified economic territory with unrestricted movement of goods, people and capital.
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