Evaluate The Effectiveness Of Classical Liberalism

Classical liberalism is the political ideology in which the primary emphasis is placed on the freedom of individuals. This includes: the rule of law, individual rights and freedoms, such as the right to unionize and freedom of speech, private property, economic interest, self-interest and competition. A free market economy was viewed as the most beneficial system during the th century as government intervention was low and the fate of individuals lay in their own hands. Classical liberalism arose in Europe after the ideas of the Enlightenment began to spread as a result of the Renaissance, a time period in which a belief in the worth of individuals was sparked. The Enlightenment continued to spread the ideas of classical liberalism that later moved into the liberal ideologies of the 19th century.

The ideas of philosophers such as, Thomas Hobbes, John Locke, Montesquieu, Adam Smith and John Stuart Mill, contributed to the development of classical liberalist ideologies. The many different ideas of these philosophers were the basic principles of classical liberalism and it was ultimately built upon these beliefs. Laissez-faire capitalism’s rapid spread throughout the world and resulted in a new form of hierarchy in which the proletariat class was below the Bourgeoisie. However, as time went on people began to question the effectiveness of classical liberalism as it triggered the greatest recession in the history of the world called The Great Depression. It can be argued that the most important aspects of classical liberalism include: the rule of law, self interest