Classical Liberalism vs Neoliberalism
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Determine whether the component falls under Classical Liberalism or Neoliberalism
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9 Terms
Classical Liberalism
Ideology:
Political philosophy
Where economic liberalism was derived.
Neoliberalism
Ideology:
Socio-economic philosophy
Classical Liberalism
Role of Government in the Economy:
Limited to no intervention
Neoliberalism
Role of Government in the Economy:
Government loans to support the economy.
Limited government spending.
Privatization of government-owned corporations.
Progressive taxation and tax cuts to businesses.
Classical Liberalism
Free-market:
Supports free trade
Neoliberalism
Free-market:
Supports free trade.
Economic cooperation among countries.
Both
Freedom:
More options/choices
Promotes diversity
Classical Liberalism
Law:
Law in favors to free-market
Neoliberalism
Law:
Law and order
Rule of law in favor to free market
Note 
Flashcards (24)