Is Classical Liberalism part of Classical Economic Theory and Capitalism?
Yes it is. Classical liberalism formed the basis of early capitalism….and capitalism formed the basis for classical liberalism. The two, essentially, were one and the same in the beginning. The word “Liberalism” refers to individual freedom and liberties. Classical liberals believed that each person, equal in their “person-hood,” had his own conception of the “good” and the freedom to pursue it – provided, of course, it did not interfere with someone else’s pursuit of their own good. The only way, in their opinion, to secure an individuals right to pursue that conceptualized “good” was to allow a free marketplace, i.e. capitalism. The government’s role was to merely to provide infrastructure and enforce contracts. Most classical liberals were deists- believed in a “creator,” but not a god that interfered in the lives of people. That view of god influenced their view as society as a whole- society wasn’t such much a “group” as it was a collection of individuals. Classical liberalism i
