What is Classical Liberalism?

Definition and meaning of classical liberalism: Classical liberalism is a political belief system that emerged during the Enlightenment. It is based on the philosophies of early liberals like John Locke and Adam Smith. The principles of classical liberalism emphasize the importance of individual liberty, limited government, and free markets. Classical liberalism is rooted in the belief that individuals have natural rights to life, liberty, and property without government interference.

Those who adhere to this political ideology argue that the best way to ensure freedom and prosperity is through a system of free markets that allows individuals to pursue their own economic interests without intrusive government regulation. They also believe that competition and voluntary exchanges in the marketplace lead to innovation, efficiency, and the overall improvement of society.

Where governance is concerned, classical liberals support a system that’s constrained by a constitution and has a system of checks and balances in place to prevent any one branch from becoming too powerful. They also champion civil liberties such as the First Amendment guarantees of freedom of speech, freedom of the press, and the right to assemble.

Historically, classical liberalism was a driving force behind the American Revolution and the framing of the U.S. Constitution. These drew on the philosophies of Locke and more revolutionary thinkers like Thomas Gordon and John Trenchard, authors of the so-called “Cato’s Letters.” Today, the principles of classical liberalism continue to influence political discourse, particularly in debates about the role of government in regulating the economy, individual rights, and the balance between state power and personal freedom.