Saturday, June 8, 2024

Do Classic Liberal support Laissez Faire Capitalism?

 Classical or Authentic liberals value the market as a dynamic tool that provides informative and timely feedback on supply and demand forces. This is conveyed through the very efficient pricing mechanism. They see the voice of the market which aggregates action/choice as being critical to the overall functioning of the economy. A support for Free Enterprise is a natural consequence of this line of thinking.

Government intervention all too often negatively impacts this feedback mechanism introducing barriers and obstacles that produce unnecessary turbulence that disrupts the self correcting mechanism.

Having said this most authentic liberals do see a role for government in protecting individual rights and safeguarding private property. Opinions differ with the respect to the extent of the government role with those taking the most minimalist position generally falling under the anarcho-capitalist label.

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