what were the thinking of the liberal and radical to encourage the society for better economic and health
Answers
Economic liberalism is a political and economic ideology based on strong support for a market economy and private property in the means of production. Today, economic liberalism is also considered opposed to non-capitalist economic orders such as socialism and planned economies.
Major tenets
Major tenetsEconomic liberalism is based on the principles of personal liberty, private property, and limited government interference. The term ‘liberalism’ should be understood in its historical context. Classical liberalism emphasized liberty from government regulation. In the economic context this would include the elimination of restriction on the choice of occupations or transfers of land. Liberalism asserts that self-interest is a basic component of human nature. In the economic arena, producers provide us with goods, not out of concern for our well-being, but due to their desire to make a profit. Likewise, workers sell their labor and buy the producer’s goods as a means of satisfying their own wants. This leads to the belief in a natural harmony of interests. By each individual pursuing their own interest the best interests of society are served. The forces of a free competitive market economy would guide production, exchange, and distribution in a manner that no government could improve upon. The government’s role, therefore, is limited to the protection of property rights, the enforcement of contracts providing public goods, and maintaining internal and external security.