Embracing Modern Liberalism: The Role of Welfare Capitalism

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In the source, the author states that individuals who want to pursue wealth are not able to if, the state rejects the pursuit of profit by putting fear and insecurity into individuals. Welfare capitalism looks to be the solution, since there is freedom to produce without fear and conflict. The source is addressed to what degree should modern liberalism be embraced? The author of the source fully embraced the ideology of pro-modern liberalism. This is hinted by the key terms “welfare capitalism and state” are major characteristics of pro-modern liberalism, since they now have the right to produce and make a profit, but, also have a social safety net in case you fall into debt making it welfare capitalism while working with the population to produce. The author’s perspective of the source can also be agreed by VIP John Maynard Keynes, because he promoted Modern …show more content…

Another VIP who would agree with this source would be Adam Smith. He believed in capitalism and the “pursuit of profit.” Every individual is free to develop their individual capacities. Adam Smith would agree with the source because of the author’s economic opinion supporting welfare capitalism. After considering the key ideas of the source, and exploring multiple ways a society can embrace or reject those ideas, it is clear that the ideology of modern liberalism as reflected in the source should be embraced fully. The source suggests that an ideal society, is a society where people are free to develop their individual capacities while being able to be awarded for their talents and engage in profits without any fear of conflict with the state; where individuals are unburdened by fear of actual hunger. A pro-modern liberal would believe in the free market and social programs that would be used as a social safety net. There is support in Modern Liberalism balancing

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