The term liberal refers to the process of supporting proposals for reforms, opening up to new ideas in pursuit of progress, and being accommodative of people’s ideas and behaviours, which can simply be regarded as being broad-minded. Classical liberalism, on the other hand, has been described as the notion that government engagement in matters of the economy within the marketplace does not serve to promote growth. In that, the market alone can be depended upon to regulate the economy by seeing to it that effective business people prosper while ineffective business people sublime. Therefore, the law of demand ...
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