Classical liberalism and the laissez-faire policy

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Publisher : GRIN Verlag
ISBN 13 : 3656098700
Total Pages : 8 pages
Book Rating : 4.6/5 (56 download)

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Book Synopsis Classical liberalism and the laissez-faire policy by : Stefan Groitl

Download or read book Classical liberalism and the laissez-faire policy written by Stefan Groitl and published by GRIN Verlag. This book was released on 2012-01-11 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2011 in the subject Economics - Macro-economics, general, grade: 68%, University of Southampton, language: English, abstract: The political ideology of classical liberalism is a coherent vision how society should be organized. It became the dominant political philosophy in the middle of the nineteenth century (Hudelson, 1999, p.38). But it is important to distinguish between the different forms of liberalism. It has different meanings, depending on the century the expression was used. In the eighteenth and nineteenth century it can be labeled as ‘classical liberalism’ (Hill, 1964, p.394). In the twentieth century it can be denoted as ‘welfare liberalism’ (Hill 1964, p.394). The main difference between these two is the extent of governmental action (Hill, 1964, p.394). Core features of the classical liberalism are the liberty of individual citizens and the commitment to free markets and free trade, which are seen as the best way to organise economic life (Hudelson, 1999, p.37). Some important representatives of the classical school are Smith, McCulloch, Senior, Cairnes, Ricardo and Mill (Taylor, 1972, p. 27).

Public Governance and the Classical-Liberal Perspective

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Publisher : Oxford University Press, USA
ISBN 13 : 0190267038
Total Pages : 281 pages
Book Rating : 4.1/5 (92 download)

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Book Synopsis Public Governance and the Classical-Liberal Perspective by : Paul Dragos Aligica

Download or read book Public Governance and the Classical-Liberal Perspective written by Paul Dragos Aligica and published by Oxford University Press, USA. This book was released on 2019-06-03 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: A distinctive perspective on governance: the building blocks -- Classical liberalism : delineating its theory of governance -- Function, structure, and process at the private-public interface -- Dynamic governance : the polycentrism process and knowledge processes -- Public choice and public administration : the confluence -- Public administration and public choice : charting the field -- Public choice, public administration, and self-governance : the Ostromian confluence -- Heterogeneity, coproduction, and polycentric governance : the Ostroms' public choice institutionalism revisited -- Framing the applied level : themes, issue areas, and cases -- Metropolitan governance : polycentric solutions for complex problems -- Independent regulatory agencies and their reform : an exercise in institutional imagination -- Polycentric stakeholder analysis : corporate governance and corporate social responsibility -- Conclusions: governance and public management : a vindication of the classical-liberal perspective?

Where Economics Went Wrong

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Publisher : Princeton University Press
ISBN 13 : 0691184054
Total Pages : 285 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis Where Economics Went Wrong by : David Colander

Download or read book Where Economics Went Wrong written by David Colander and published by Princeton University Press. This book was released on 2018-11-27 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: How modern economics abandoned classical liberalism and lost its way Milton Friedman once predicted that advances in scientific economics would resolve debates about whether raising the minimum wage is good policy. Decades later, Friedman’s prediction has not come true. In Where Economics Went Wrong, David Colander and Craig Freedman argue that it never will. Why? Because economic policy, when done correctly, is an art and a craft. It is not, and cannot be, a science. The authors explain why classical liberal economists understood this essential difference, why modern economists abandoned it, and why now is the time for the profession to return to its classical liberal roots. Carefully distinguishing policy from science and theory, classical liberal economists emphasized values and context, treating economic policy analysis as a moral science where a dialogue of sensibilities and judgments allowed for the same scientific basis to arrive at a variety of policy recommendations. Using the University of Chicago—one of the last bastions of classical liberal economics—as a case study, Colander and Freedman examine how both the MIT and Chicago variants of modern economics eschewed classical liberalism in their attempt to make economic policy analysis a science. By examining the way in which the discipline managed to lose its bearings, the authors delve into such issues as the development of welfare economics in relation to economic science, alternative voices within the Chicago School, and exactly how Friedman got it wrong. Contending that the division between science and prescription needs to be restored, Where Economics Went Wrong makes the case for a more nuanced and self-aware policy analysis by economists.

Challenges in Classical Liberalism

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Publisher : Springer Nature
ISBN 13 : 3031328906
Total Pages : 303 pages
Book Rating : 4.0/5 (313 download)

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Book Synopsis Challenges in Classical Liberalism by : Alice L. Kassens

Download or read book Challenges in Classical Liberalism written by Alice L. Kassens and published by Springer Nature. This book was released on 2023-09-09 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines contemporary policy debates from opposing perspectives. It considers seven key topics in today’s society: land use, education, international trade, health insurance, technological change, and recreational alcohol and drugs. Two scholars with differing viewpoints discuss each topic, one working in the classical liberal tradition and the other advocating slower, incremental societal change. While classical liberalism historically presents a vision of society comprised of free and responsible individuals, this book shows the importance of considering the nuances of this vision today. Beyond theoretical regulation vs. de-regulation debates, the book highlights challenges for classical liberals by considering how dynamism and creative destruction may disrupt communities, leading to worse outcomes for some groups. This edited volume aims to deepen understanding of this challenge to a free society and partake in and encourage civil intellectual discourse and debate. It will interest students and scholars from various fields, including economics, political science, public health, and environmental studies.

Reviving the Invisible Hand

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Publisher : Princeton University Press
ISBN 13 : 1400837448
Total Pages : 335 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Reviving the Invisible Hand by : Deepak Lal

Download or read book Reviving the Invisible Hand written by Deepak Lal and published by Princeton University Press. This book was released on 2010-12-16 with total page 335 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reviving the Invisible Hand is an uncompromising call for a global return to a classical liberal economic order, free of interference from governments and international organizations. Arguing for a revival of the invisible hand of free international trade and global capital, eminent economist Deepak Lal vigorously defends the view that statist attempts to ameliorate the impact of markets threaten global economic progress and stability. And in an unusual move, he not only defends globalization economically, but also answers the cultural and moral objections of antiglobalizers. Taking a broad cross-cultural and interdisciplinary approach, Lal argues that there are two groups opposed to globalization: cultural nationalists who oppose not capitalism but Westernization, and "new dirigistes" who oppose not Westernization but capitalism. In response, Lal contends that capitalism doesn't have to lead to Westernization, as the examples of Japan, China, and India show, and that "new dirigiste" complaints have more to do with the demoralization of their societies than with the capitalist instruments of prosperity. Lal bases his case on a historical account of the rise of capitalism and globalization in the first two liberal international economic orders: the nineteenth-century British, and the post-World War II American. Arguing that the "new dirigisme" is the thin edge of a wedge that could return the world to excessive economic intervention by states and international organizations, Lal does not shrink from controversial stands such as advocating the abolishment of these organizations and defending the existence of child labor in the Third World.

The Struggle for a Better World

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Publisher :
ISBN 13 : 9781942951865
Total Pages : 340 pages
Book Rating : 4.9/5 (518 download)

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Book Synopsis The Struggle for a Better World by : Peter J Boettke

Download or read book The Struggle for a Better World written by Peter J Boettke and published by . This book was released on 2021-02-22 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: In The Struggle for a Better World, Peter J. Boettke explores how the social sciences, and political economy in particular, help us understand society and its institutions of governance. Boettke advances an approach for understanding, articulating, and pursuing a coherent and consistent vision of a society of free and responsible individuals who may prosper through voluntary participation in the market and their communities. In this volume, a collection of addresses, lectures, and papers over the past two decades, Boettke articulates ideas which, if consistently pursued, can help fulfill liberalism's emancipatory promise to advance human flourishing and overcome adversity caused by economic, social, and political injustice and repression. Boettke advocates for liberal cosmopolitanism, grounded in the principles of equality, justice, and liberty, and the basic recognition that all people are dignified equals, as the best hope for a better world.

Classical Liberalism

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Publisher :
ISBN 13 : 9780978872861
Total Pages : 250 pages
Book Rating : 4.8/5 (728 download)

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Book Synopsis Classical Liberalism by : Charles Siegel

Download or read book Classical Liberalism written by Charles Siegel and published by . This book was released on 2011-08 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Classical Liberalism is a must read. For one thing, readers should not deprive themselves of the pure enjoyment of this engaging and clear-minded narrative of a broad swath of history. For another, anyone concerned about the state of democratic civil society in the West, and worried about its future, cannot afford to neglect this disarming analysis." - Prof. Elisabeth Lasch-Quinn, Syracuse University According to the conventional history, liberalism went through two phases, laissez-faire liberalism and modern liberalism. This book rediscoveers a lost tradition of liberal thought and shows that liberalism went through three phases: Classical liberalism believed in positive freedom, the right of people to manage their own affairs and to govern themselves. Victorian liberalism had two aspects. Laissez-faire liberalism accommodated the industrial economy by inventing the ideal of negative freedom: freedom was simply absence of government control. There was also a more idealistic aspect of Victorian liberalism which is largely forgotten today but which was central to the abolitionist and feminist movements. Modernist liberalism kept the laissez-faire idea of negative freedom but applied it to a narrow realm of personal behavior. It expected centralized organizations to make important decisions, and it emphasized personal freedom. Laissez-faire and modernist liberalism redefined freedom as negative in order to accommodate economic growth. To revitalize the liberal tradition, we need to revive the ideal of positive freedom.

Classical Liberalism and International Economic Order

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Publisher : Routledge
ISBN 13 : 1134710267
Total Pages : 237 pages
Book Rating : 4.1/5 (347 download)

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Book Synopsis Classical Liberalism and International Economic Order by : Razeen Sally

Download or read book Classical Liberalism and International Economic Order written by Razeen Sally and published by Routledge. This book was released on 2002-01-04 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book makes an innovative link between classical liberalism and questions of international economic order. The author begins with an outline of classical liberalism as applied to domestic economic order. He then surveys the classical liberal tradition from the Scottish Enlightenment to modern thinkers like Knight, Hayekn and Viner. Finally, he brings together the insights of thinkers in this tradition to provide a synthetic overview of classical liberalism and international economic order. The author's deployment of classical liberalism strikes a different note to other 'liberal' interpretations in economics and political science. In particular, classical liberalism points to the domestic preconditions of international order, and advocates unilateral liberalisation in the context of an institutional competition between states.

What Is Classical Liberal History?

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Publisher : Lexington Books
ISBN 13 : 1498536115
Total Pages : 269 pages
Book Rating : 4.4/5 (985 download)

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Book Synopsis What Is Classical Liberal History? by : Michael J. Douma

Download or read book What Is Classical Liberal History? written by Michael J. Douma and published by Lexington Books. This book was released on 2017-12-21 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: Historians working in the classical liberal tradition believe that individual decision-making and individual rights matter in the making of history. History written in the classical liberal tradition emerged largely in the nineteenth century, when the field of history was first professionalized in Europe and the Americas. Professional historical research was then imbued with liberal values, which included rigorous attention to the sources, historicist suspicion of an ultimate mover, an honest and dispassionate rational outlook, and humility towards what could be known. Above all, liberals wanted to chart the history of liberty, warn against threats to liberty, and defend it in an evolving political world. They believed history was real, and that it had lessons to teach, but that these lessons could not provide sufficient knowledge to predict the future or reorganize society around a central plan. This book demonstrates how the classical liberal tradition in historical writing persists to this day, but how it is often neglected and due for renewal. The book contrasts the classical liberal view on history with conservative, progressive, Marxist, and post-modern views. Each of the eleven chapters address a different historical topic, from the development of classical liberalism in nineteenth century America to the the history of civil liberties and civil rights that stemmed from this tradition. Authors give particular attention to the importance of social and economic analysis. Each contributor was chosen as an expert in their field to provide a historiographical overview of their subject, and to explain what the classical liberal contribution to this historiography has been and should be. Authors then provide guidance towards possible tools of analysis and related research topics that future historians working in the classical liberal tradition could take up. The authors wish to call upon other historians to recognize the important contributions to historical understanding that have come and can be provided by the insights of classical liberalism.

Classical Liberalism – A Primer

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Publisher : London Publishing Partnership
ISBN 13 : 0255367082
Total Pages : 160 pages
Book Rating : 4.2/5 (553 download)

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Book Synopsis Classical Liberalism – A Primer by : Eamonn Butler

Download or read book Classical Liberalism – A Primer written by Eamonn Butler and published by London Publishing Partnership. This book was released on 2015-07-16 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: This primer aims to provide a straightforward introduction to the principles, personalities and key developments in classical liberalism. It is designed for students and lay readers who may understand the general concepts of social, political and economic freedom, but who would like a systematic presentation of its essential elements.

The Classical Liberal Constitution

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Publisher : Harvard University Press
ISBN 13 : 0674727800
Total Pages : 889 pages
Book Rating : 4.6/5 (747 download)

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Book Synopsis The Classical Liberal Constitution by : Richard A. Epstein

Download or read book The Classical Liberal Constitution written by Richard A. Epstein and published by Harvard University Press. This book was released on 2014-01-06 with total page 889 pages. Available in PDF, EPUB and Kindle. Book excerpt: American liberals and conservatives alike take for granted a progressive view of the Constitution that took root in the early twentieth century. Richard Epstein laments this complacency which, he believes, explains America’s current economic malaise and political gridlock. Steering clear of well-worn debates between defenders of originalism and proponents of a living Constitution, Epstein employs close textual reading, historical analysis, and political and economic theory to urge a return to the classical liberal theory of governance that animated the framers’ original text, and to the limited government this theory supports. “[An] important and learned book.” —Gary L. McDowell, Times Literary Supplement “Epstein has now produced a full-scale and full-throated defense of his unusual vision of the Constitution. This book is his magnum opus...Much of his book consists of comprehensive and exceptionally detailed accounts of how constitutional provisions ought to be understood...All of Epstein’s particular discussions are instructive, and most of them are provocative...Epstein has written a passionate, learned, and committed book.” —Cass R. Sunstein, New Republic

The Classical Liberalism, Marxism, and the Twentieth Century

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Publisher :
ISBN 13 :
Total Pages : 144 pages
Book Rating : 4.3/5 (511 download)

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Book Synopsis The Classical Liberalism, Marxism, and the Twentieth Century by : Overton H. Taylor

Download or read book The Classical Liberalism, Marxism, and the Twentieth Century written by Overton H. Taylor and published by . This book was released on 1962 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Robust Political Economy

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Publisher : Edward Elgar Publishing
ISBN 13 : 9781849807654
Total Pages : 0 pages
Book Rating : 4.8/5 (76 download)

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Book Synopsis Robust Political Economy by : Mark Pennington

Download or read book Robust Political Economy written by Mark Pennington and published by Edward Elgar Publishing. This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This important book offers a comprehensive defence of classical liberalism against contemporary challenges. It sets out an analytical framework of 'robust political economy' that explores the economic and political problems that arise from the phenomena of imperfect knowledge and imperfect incentives. Using this framework, the book defends the classical liberal focus on markets and the minimal state from the critiques presented by 'market failure' economics and communitarian and egalitarian variants of political theory. Mark Pennington expertly applies the lessons learned from responding to these challenges in the context of contemporary discussions surrounding the welfare state, international development, and environmental protection. Written in an accessible style, this authoritative book would be useful for both undergraduate and graduate students of political economy and public policy as a standard reference work for classical liberal analysis and a defence of its normative prescriptions. The book's distinctive approach will ensure that academic practitioners of economics and political science, political theory and public policy will also find its controversial conclusions insightful. Contents: 1. Introduction: Classical Liberalism and Robust Political Economy; Part I: Challenges to Classical Liberalism; 2. Market Failures 'Old' and 'New': The Challenge of Neo-Classical Economics; 3. Exit, Voice and Communicative Rationality: The Challenge of Communitarianism I; 4. Exit, Trust and Social Capital: The Challenge of Communitarianism II; 5. Equality and Social Justice: The Challenge of Egalitarianism; Part II: Towards the Minimal State; 6. Poverty Relief and Public Services: Welfare State or Minimal State?; 7. Institutions and International Development: Global Governance or the Minimal State?; 8. Environmental Protection: Green Leviathan or the Minimal State?; 9. Conclusion; Bibliography; Index

Skepticism and Freedom

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Publisher : University of Chicago Press
ISBN 13 : 9780226213040
Total Pages : 324 pages
Book Rating : 4.2/5 (13 download)

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Book Synopsis Skepticism and Freedom by : Richard A. Epstein

Download or read book Skepticism and Freedom written by Richard A. Epstein and published by University of Chicago Press. This book was released on 2003-06 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: With this book, Richard A. Epstein provides a spirited and systematic defense of classical liberalism against the critiques mounted against it over the past thirty years. One of the most distinguished and provocative legal scholars writing today, Epstein here explains his controversial ideas in what will quickly come to be considered one of his cornerstone works. He begins by laying out his own vision of the key principles of classical liberalism: respect for the autonomy of the individual, a strong system of private property rights, the voluntary exchange of labor and possessions, and prohibitions against force or fraud. Nonetheless, he not only recognizes but insists that state coercion is crucial to safeguarding these principles of private ordering and supplying the social infrastructure on which they depend. Within this framework, Epstein then shows why limited government is much to be preferred over the modern interventionist welfare state. Many of the modern attacks on the classical liberal system seek to undermine the moral, conceptual, cognitive, and psychological foundations on which it rests. Epstein rises to this challenge by carefully rebutting each of these objections in turn. For instance, Epstein demonstrates how our inability to judge the preferences of others means we should respect their liberty of choice regarding their own lives. And he points out the flaws in behavioral economic arguments which, overlooking strong evolutionary pressures, claim that individual preferences are unstable and that people are unable to adopt rational means to achieve their own ends. Freedom, Epstein ultimately shows, depends upon a skepticism that rightly shuns making judgments about what is best for individuals, but that also avoids the relativistic trap that all judgments about our political institutions have equal worth. A brilliant defense of classical liberalism, Skepticism and Freedom will rightly be seen as an intellectual landmark.

The Revival of Laissez-faire in American Macroeconomic Theory

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Publisher : Edward Elgar Publishing
ISBN 13 : 9781843765608
Total Pages : 190 pages
Book Rating : 4.7/5 (656 download)

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Book Synopsis The Revival of Laissez-faire in American Macroeconomic Theory by : Sherryl Davis Kasper

Download or read book The Revival of Laissez-faire in American Macroeconomic Theory written by Sherryl Davis Kasper and published by Edward Elgar Publishing. This book was released on 2003-01-01 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'I find The Revival of Laissez-Faire informative, especially as a survey of the ideas of the six economists, each of whom was no doubt at the front in the intellectual battle over laissez-faire. The book is a good source on an important slice of twentieth century economics for undergraduate history of economics course.' - J. Daniel Hammond, Journal of the History of Economic Thought In the 1970s, the Keynesian orthodoxy in macroeconomics began to break down. In direct contrast to Keynesian recommendations of discretionary policy, models advocating laissez-faire came to the forefront of economic theory. Laissez-faire no longer stood as an exceptional policy endorsed for rare occurrences of market clearing; rather it became the policy standard. This book provides the definitive account of this watershed and traces the evolution of laissez-faire using the cases of its proponents, Frank Knight, Henry Simons, Friedrich von Hayek, Milton Friedman, James Buchanan and Robert Lucas. By elucidating the pre-analytical framework of their writings, Sherryl Kasper accounts for the ideological influence of these pioneers on theoretical work, and illustrates that they played a primary role in founding the theoretical and philosophical use of rules as the basis of macroeconomic policy. A case study of the way in which interwar pluralism transcended to postwar neoclassicism is also featured.

The System of Liberty

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Publisher : Cambridge University Press
ISBN 13 : 1107005078
Total Pages : 237 pages
Book Rating : 4.1/5 (7 download)

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Book Synopsis The System of Liberty by : George H. Smith

Download or read book The System of Liberty written by George H. Smith and published by Cambridge University Press. This book was released on 2013-04-22 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: Liberal individualism, or "classical liberalism" as it is often called, refers to a political philosophy in which liberty plays the central role. This book demonstrates a conceptual unity within the manifestations of classical liberalism by tracing the history of several interrelated and reinforcing themes. Concepts such as order, justice, rights, and freedom have imparted unity to this diverse political ideology by integrating context and meaning. However, they have also sparked conflict, as classical liberals split on a number of issues, such as legitimate exceptions to the "presumption of liberty," the meaning of "the public good," natural rights versus utilitarianism, the role of the state in education, and the rights of resistance and revolution. This book explores these conflicts and their implications for contemporary liberal and libertarian thought.

Race, Liberalism, and Economics

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Publisher : University of Michigan Press
ISBN 13 : 0472024841
Total Pages : 350 pages
Book Rating : 4.4/5 (72 download)

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Book Synopsis Race, Liberalism, and Economics by : David Colander

Download or read book Race, Liberalism, and Economics written by David Colander and published by University of Michigan Press. This book was released on 2009-12-14 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: Noneconomists often think that economists' approach to race is almost exclusively one of laissez-faire. Racism, Liberalism, and Economics argues that economists' ideas are more complicated. The book considers economists' support of markets in relation to the challenge of race and race relations and argues that their support of laissez-faire has traditionally been based upon a broader philosophical foundation of liberalism and history: what markets have and have not achieved in the past, and how that past relates to the future. The book discusses the concepts of liberalism and racism, the history and use of these terms, and how that history relates to policy issues. It argues that liberalism is consistent with a wide variety of policies and that the broader philosophical issues are central in choosing policies. The contributors show how the evolution of racist ideas has been a subtle process that is woven into larger movements in the development of scientific thought; economic thinking is embedded in a larger social milieu. Previous discussions of policies toward race have been constrained by that social milieu, and, since World War II, have largely focused on ending legislated and state-sanctioned discrimination. In the past decade, the broader policy debate has moved on to questions about the existence and relative importance of intangible sources of inequality, including market structure, information asymmetries, cumulative processes, and cultural and/or social capital. This book is a product of, and a contribution to, this modern discussion. It is uniquely transdisciplinary, with contributions by and discussions among economists, philosophers, anthropologists, and literature scholars. The volume first examines the early history of work on race by economists and social scientists more generally. It continues by surveying American economists on race and featuring contributions that embody more modern approaches to race within economics. Finally it explores several important policy issues that follow from the discussion. ". . . adds new insights that contribute significantly to the debate on racial economic inequality in the U.S. The differing opinions of the contributors provide the broad perspective needed to examine this extremely complex issue." --James Peoples, University of Wisconsin-Milwaukee "There is an immense economic literature on racial discrimination, employing a variety of models and decomposition methods. This volume makes a unique contribution by focusing on the philosophical assumptions at the root of this analysis and by presenting many sides of the very vigorous debate surrounding these controversial issues." --Thomas Maloney, University of Utah "By focusing upon the progress of analytical technique, historians of economic thought have grossly neglected the symbiotic relation of economics to public policy and ideology. This collection of essays offers a most welcome breach of disciplinary apartheid. Seizing upon recent research in the almost forgotten writings about race of Classical economists and their contemporaries, it relates nineteenth-century ideas to current debates about economic discrimination and other manifestations of racism. As the writing is both learned and lively, the book should appeal both to the generally educated reader and to teachers of courses in multiculturalism." --Melvin Reder, Isidore Brown and Gladys J. Brown Professor Emeritus of Urban and Labor Economics, University of Chicago