Liberalism is a political philosophy based on the ideas of liberty and equality. This includes freedom of speech, religion, press, civil rights, free markets, secular governments, Democratic societies, and gender equality. Historians and Philosophers consider John Locke, the father of Liberalism.
The benefits of Liberalism
There are many benefits to the political philosophy of Liberalism. These include, but are not limited to, a growing economy, expansion of freedoms, the preservation of human rights, and collective security.
A key fixture of Liberalism is a free market. Free markets promote economic growth. This is accomplished by a lack of government regulation that can inhibit economic expansion.
There are many disadvantages to Liberalism. Without checks and balances, corporations can take advantage of workers and sectors. Additionally, there can become an over-dependence on Liberalism as well as cultural issues from pushing Western values on people who do not want them.
Free markets naturally have economic recessions. These painful events occur often. For example, there have been seventeen notable economic recessions in the United States, including, most famously, the Great Depression.
Market-based wages tend to promote unfair working wages. With a free market, employers can pay their employees as they deem fit. Unfortunately, this can lead to employers taking advantage of their employees.