Key Concepts in Liberalism

These flashcards cover key terms and definitions related to liberalism, its evolution, and central theories of key philosophers.

Hobbes

An English philosopher known for his work 'Leviathan' and advocating for a strong central authority to avoid chaos in society.

Social Contract Theory

A philosophical concept proposing that individuals consent to form a government to protect their rights, thereby forming a contract with the sovereign.

Natural Rights

Rights that are inherent and inalienable to all individuals, including life, liberty, and property, as proposed by John Locke.

Laissez-Faire

An economic doctrine of minimal government intervention in the economic affairs of individuals and society, associated with Adam Smith.

Utilitarianism

An ethical theory proposed by Jeremy Bentham, suggesting that the best action is the one that maximizes overall happiness or utility.

Enlightened Self-Interest

A concept introduced by John Stuart Mill, suggesting that individuals can pursue their own interests while also considering the well-being of others.

Positive Freedom

The idea advocated by T.H. Green that freedom is about the capacity to act and achieve one's potential, not just the absence of interference.

Underconsumption

Hobson's theory that the free market can lead to disparity in purchasing power, thus requiring state intervention to maintain economic stability.

Keynesianism

Economic theory established by John Maynard Keynes, advocating for government intervention to manage the economy and prevent depressions.

Contemporary Liberalism

A modern interpretation of liberalism that supports a mixed economy, individual rights, social justice, and welfare states.