Classical Liberalism Is The Ideology Of Capitalism

What might lead some to argue that classical liberalism is the ideology of capitalism? Ideology is defined as the basis for political action that combines the following: an empirical evaluation of society as it is currently, an ideal situation for how things should be, and finally, a suggested action that will help achieve said goal. Capitalism is currently the most popular economic system, but one’s perspective can create differences in definitions. Breaking down Capitalism can reveal an ideology that some may find to be very familiar, and many believe that Classical Liberalism actually contains the ideology behind the currently most popular type of economic system. First, I will that explain the introduction of Classical Liberalism ideology in history and then discuss capitalism in relation to this. The Classical Liberal ideology began to really take form in the late 18th century as a result of the unrest caused by the British Parliamentarians’ decisions and the effects of the industrial revolution and globalization that were beginning to take form. Feudalism, the existing economic system was composed of peasants, employed around 80% of England’s population in 1520 and now was starting to face harsh criticism. The government and ruling wealthy class of people were immensely powerful in the economy at that time while the common person was a poor farmer or peasant. They needed to pay â€Å"lords†, or nobles, for land, resources, and protection. Furthermore it was not uncommon toShow MoreRelatedConservatism Vs. Classical Liberalism859 Words   |  4 Pagescentury, classical liberalism was the ideology that society thought would best protect individual liberties. Conservatism and classical liberalism often resemble each other in social and political ideas and w ays of thinking. 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