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Question 3
To what extent is liberalism more concerned with society than with the economy? You must use appropriate thinkers you have studied to support your answer and consid... show full transcript
Step 1
Answer
For all liberals, both classical and modern, society and the economy were central.
However, there are differing views on the significance and emphasis each aspect holds. Classical liberals argue that a free economy is paramount for individual freedom, while modern liberals may prioritize social equality. For instance, John Locke emphasized that both the freedom of the economy and a free society were essential, allowing for an equilibrium between economic and societal needs.
Step 2
Answer
Both modern and classical liberals recognize the importance of a free market economy as essential for a free society. Classical liberals believe that a thriving free market economy ultimately enhances individual liberty, whereas modern liberals may emphasize the importance of social welfare within the economy.
John Stuart Mill argued for the flourishing of individual capability within a liberal society, bridging the gap between economic prosperity and societal well-being.
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