Classical liberalism: Difference between revisions - Wikipedia

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The changing economic and social conditions of the 19th century led to a division between neo-classical and social (or welfare) liberals, who while agreeing on the importance of individual liberty differed on the role of the state. Neo-classical liberals, who called themselves "true liberals", saw Locke's ''[[Two Treatises of Government#Second Treatise|Second Treatise]]'' as the best guide and emphasised "limited government" while social liberals supported government regulation and the welfare state. Herbert Spencer in Britain and [[William Graham Sumner]] were the leading neo-classical liberal theorists of the 19th century.{{sfn|Ishiyama|Breuning|p=596}} The evolution from classical to social/welfare liberalism is for example reflected in Britain in the evolution of the thought of [[John Maynard Keynes]].<ref>See the studies of Keynes by [[Roy Harrod]], [[Robert Skidelsky]], [[Donald Moggridge]] and [[Donald Markwell]].</ref>

=== Ottoman Empire ===

The [[Ottoman Empire]] had [[Economic liberalism|liberal]] free trade policies by the 18th century, with origins in [[capitulations of the Ottoman Empire]], dating back to the first commercial treaties signed with France in 1536 and taken further with [[Capitulation (treaty)|capitulations]] in 1673, in 1740 which lowered [[Duty (economics)|duties]] to only 3% for imports and exports and in 1790. Ottoman free trade policies were praised by British economists advocating free trade such as [[J. R. McCulloch]] in his ''Dictionary of Commerce'' (1834), but criticized by British politicians opposing free trade such as [[Prime Minister of the United Kingdom|Prime Minister]] [[Benjamin Disraeli]], who cited the Ottoman Empire as "an instance of the injury done by unrestrained competition" in the 1846 [[Corn Laws]] debate, arguing that it destroyed what had been "some of the finest manufactures of the world" in 1812.<ref>{{cite book |author=Paul Bairoch |url=https://www.scribd.com/document/193124153/Economics-and-World-History-Myths-and-Paradoxes-Paul-Bairoch |title=Economics and World History: Myths and Paradoxes |publisher=[[University of Chicago Press]] |year=1995 |pages=31–32 |author-link=Paul Bairoch |access-date=2017-08-16 |archive-url=https://web.archive.org/web/20171012060209/https://www.scribd.com/document/193124153/Economics-and-World-History-Myths-and-Paradoxes-Paul-Bairoch |archive-date=2017-10-12 |url-status=dead}}</ref>

=== United States ===