What is the difference between Liberalism and Neo-liberalism


What is the difference between Liberalism and Neo-liberalism

The classical liberalism sees the role of state as a night watchman, upholding only the most fundamental aspects of public order like the armed forces and law enforcement. Classical liberalism has a lot in common with the economic aspect of liberalism. Neo liberals on the other hand have shown greater willingness in allowing state to be an active participant in the economy. In Neo liberalism, the state tends to regulate the market and also to supply essential goods and services to everyone.

The classical liberals favour laissez-faire economic policies claiming that they lead to more freedom and democracy. Neo-liberals on the other hand refute this analysis and believe in active role of state in the economy in order to meet the most basic liberal goals. Classical Liberalism is based on constitutional democracy, limited involvement of government, individual liberty and basic human and civil rights needed for a descent human existence.

Saroj Meher

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