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Lecture 4

Political Science 1020E Lecture Notes - Lecture 4: Classical Liberalism, Invisible Hand, Free Market

Political Science
Course Code
Political Science 1020E
Andrea Lawlor

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Liberalism & Conservatism
Political ideology
- A belief of set of coherent values that suggest how society should be organized and ideas
that describe the political order
- Also accompanied by a plan of action
Traditional Ideologies
Ideologies describe the present, offer a future- oriented vision, and an action plan
Externally & internally contested
They reflect historical conditions
Ideologies and the Enlightenment
Types of Liberalism
Modern Liberalism
Classical Liberalism
Classical Liberalism
Philosophers like Thomas Hobbes, John locke, Adam smith “ the free market when
operated without government it works as an invisible hand for itself” 1700’s
Industrial revolution
Rise of state system
Movements toward greater individual freedom
Resemble the conservative or republican party
Rooted in individualist philosophies
Core values (Market and Freedom*)
Protection of individual
Free market
Property rights, rule of law
Limited gov’t intervention
Role for the state but view it as one that only needs to intervene when
absolutely necessary
Protection of property
And maintaining and enforcing the rule of law
Liberty (negative)
Development of social system that focused on equality and freedom of the
Negative Liberty
Defined as freedom with an absence of interference
“Sphere of inviolability
Compatible with
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