Classical Liberalism

Classical liberalism, originating from the 17th and 18th centuries, is a political philosophy supporting the existence of the individual before the state, emphasizing individual rights, private property, and advocating laissez-faire economic policies, believing that the purpose of government is solely to protect individual freedom. According to the economic principle of input-output, classical liberalism argues that a nation’s true wealth is not the accumulation of gold and silver but the quantity of goods and services created by its citizens.

Classical liberalism asserts that everyone is born free and possesses the right to pursue happiness and realize their potential. This freedom includes freedom of speech, religion, association, and economic freedom. Individual rights and freedoms are regarded as the fundamental values of society, and government power should be limited to protect these rights.

Classical liberalism advocates for limited government power, with its primary responsibilities being to protect citizens’ basic rights and freedoms rather than excessively intervening in individual lives and economic activities. The government’s role should include maintaining the rule of law, protecting national security, enforcing contracts, and safeguarding property rights.

Economically, classical liberalism promotes a free market economy, a system regulated by supply and demand. It believes that the market is the best mechanism for resource allocation, and government intervention often leads to market failure and inefficiency. Therefore, classical liberalism supports free trade, competition, and entrepreneurial spirit.

Classical liberalism emphasizes equality before the law, which should be just and transparent. The rule of law is the foundation for limiting government power and protecting individual freedom. It requires laws to be formulated by constitutional and democratic procedures to ensure checks and balances of power and citizen participation.

Thinkers of classical liberalism, like John Locke and Thomas Hobbes, introduced the concept of the social contract. They argued that the state’s legitimacy stems from citizens’ consent, that government power is derived from the people’s authorization, and that people have the right to resist when the government infringes on their rights.

Classical liberalism also faces criticism, primarily from social democracy, Marxism, and other political theories. Critics argue that classical liberalism may lead to social inequality and economic exploitation. Consequently, some modern liberals advocate that while protecting individual freedom, the government should take measures to promote social equity and justice.