Liberalism and Capitalism: Shaping Modern Society
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Political Liberalism: 18th-19th Century Foundations
Political philosophy associated with fundamental principles that laid the foundation for modern liberties of the 19th century and the evolution towards democracy. It distinguished the 'political' from the 'economic' (especially concerning wealth expressed as money).
Core Principles of Political Liberalism
- Freedom of the individual
- Civil liberties
- Representative constitutional government
- Parliamentarism
Initially revolutionary and progressive, political liberalism fought against feudal aristocracy, absolute monarchy, and church doctrine.
Economic Liberalism: Principles and Challenges
Economic liberalism brought significant shifts in societal values and economic practices:
- Change in the perception of