Capitalism Vs. Classical Liberalism Essay

1659 Words Apr 15th, 2015 7 Pages
The source states that if there were any kind of government intervention in the economy, the strangling of innovation and self-reliance would take away the widespread prosperity only a free-market economy can provide. This opinion directly corresponds to the ideology of capitalism, the economic aspect of classical liberalism. Capitalism supports many values that are commonly associated with modern-day western economies. One such value, laissez faire economics, professes a government free economy. Therefore, the government is not welcome in interfering with the economy. A second value that is associated with capitalism would be the idea of private property. Private property means that someone owns something, and no one can take it away from them. The person can innovate and do whatever they want with their property as long as he or she does not break the law. Another value that is associated with capitalism and classical liberalism is the ability for people to work out their own destinies without the interference of others. This means that people are self-reliant, and do not rely on other, for example the governments, help. As a sum of the previous values, the most well-known economist who would agree with the source would be Adam Smith, the ‘father of capitalism.’ The speaker of the source would advocate for policies that limit any government intervention in society, as well as dismiss any organizations that aim to help those who cannot help themselves. Consequently, the…

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