Liberalism.

AuthorKelley, David

In the 19th century, liberals worked to limit the role of government in economic matters, under the banner of free trade, laissez-faire, and the rights of property and contract. But around the turn of the century, in England and America, liberalism changed its course. As against the classical liberals, modern liberals wanted to expand government's power to regulate private economic activity and transfer wealth among its citizens.

Liberalism as a doctrine may be out of favor, but we still live in a liberal regime, with all the programs that liberals argued and lobbied for successfully: regulation of the economy as a whole through fiscal and monetary policy; regulation of individual sectors through regulatory agencies; welfare programs for the poor; and "social insurance" programs-unemployment benefits, Medicare, Social Security--for the entire population. Even conservative politicians now take these programs for granted.

It is therefore useful to know the arguments, the political philosophy, that made modern liberalism so successful. The best guide to this philosophy is L. T. Hobhouse's little book Liberalism (Oxford University Press, 1964). During his career, Hobhouse taught at Oxford and the University of London, was a journalist at the Manchester Guardian and other papers, and lectured widely in England and America. Liberalism is his attempt to justify the growth of the state by appealing to the individualist ideals of classical liberalism. Though the book was first published in 1911, it might have been written yesterday by the editorialists of The New York Times, if they took the time (and had the ability) to formulate the principles behind their positions.

Hobhouse thought that the ultimate good is the self-realization of the...

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