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Lecture 14

History 1401E Lecture 14: Challenge to Restoration -- Liberalism

Course Code
HIS 1401E
Pierre Reynard

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Wednesday, November 18, 2015
History Lecture
Challenge to Restoration: Liberalism
-industrialization — sanitization of cities // major factor of the industrial revolution
-this age was the age of “isms” — words that end in “ism”
nationalism, liberalism, humanitarianism, industrialism, etc // new ideologies
-liberalism: the ideology and its roots
emerged early in the 1800s (19th century) and it is still around today
centred around the idea of liberty of the individual // freedom
liberty — the act of following one’s own free will
-liberalists appreciate and respect one’s own freedoms
-an individual is to be respected as themselves
-liberals distinguish the well-being of the community // the priority begins with
the individual — they must be valued
liber (latin meaning “free”) / liberatas / liberalis
-liberalism: open to new behaviour and willing to discard old regimes (traditional values)
in order to accept new ones
Adam Smith (1723-1834) — Wealth of Nations (1776)
-market forces (market being a social place) tend to create and equilibrium
-the invisible hand — used by Adam Smith to describe unintended social benefits
resulting from individual actions
-“Laissez faire” // let’s make // let it be
Thomas Malthus (1766-1834)
David Ricardo (1772-1823)
John Stuart Mill (1806-1873)
Jeremy Bentham (1748-1832)
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