POL201Y1 Lecture : Lec 09 Notes

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14 Feb 2011
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Liberalism: belief in the importance of individual freedom. Classical liberalism: freedom from interference instead of freedom of interference, people just have to make sure the state does not infringe in their freedom, pre-existing condition, they fear a despotic state. Modern liberalism: freedom needs to be produced, it is not equally distributed and it is not, freedom is not a pre-existing condition, it is government generated, they support broad ethnic, social, differences. State need to intervene in order to produce freedom. Idea that market would work out on its own without any push/pressure: keynes" economic policy was implemented in 2008 by all governments to get out of the crisis, he believed the government should intervene in the market. (check. They are forced to turn to the imf and the world bank to get money. Because the price of oil increased and they need oil.

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