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Socialism seeks to replace the structure of the present economy with an alternative economic system that is not based on the accumulation of capital, private ownership of the means of production, and orientation of the economy to produce private profits. It seeks to resolve social and economic issues, such as economic crises, over-accumulation of capital, social inequality, and degenerate consumerist culture by tackling the cause of these problems - the capitalist system - and to replace capitalism with an economic system that does not generate these specific issues in the first place.

Modern liberalism seeks to tackle these same problems by treating the symptoms rather than the cause of the problems. Instead of replacing the system of capital accumulation and private ownership, they seek to regulate the existing system in the hope of preventing or mitigating the negative effects of economic crisis on ordinary citizens; to reduce inequality through social welfare programs and governmental policies that might contradict the underlying economic system.

In short, socialism is an alternative system to capitalism. Liberalism is tinkering around with the existing system of capitalism in order to make it "work" in a more just manner.

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11y ago
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11y ago
Economic liberalism refers to a belief in the market as a self-regulating mechanism

that tends naturally to deliver general prosperity and opportunities for all. In view

of the market’s tendency towards long-run equilibrium, such economic thinking

implies very limited state intervention and then only to protect market competition

(for example, by restricting cartels and monopolies).


Social liberalism, on the other hand, refers to a belief in qualified social

intervention, particularly focused on welfare provision to help citizens who are

unable to help themselves. Justified by reference to the need to expand positive

freedom and promote equal opportunities, this implies the expansion of social

welfare in the form of, for example, social-security, health, education and other

services.

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11y ago

A liberal government is just any government with a constitution that protects individual rights. Liberal governments usually guarantee freedom of speech, equal rights for women and different races, etc. A social democracy combines socialist and capitalist ideas to make sure that the country doesn't go too far in either direction. A social democracy is welfare state where the government provides social programs to ensure the well-being of its citizens, such as universal healthcare. The government also regulates large businesses to give workers certain protections and protect the environment and such. Unlike socialism, social democracy allows private property and people still have the opportunity to become rich. Some examples of liberal governments are the USA, Britain, Japan, while some examples of social democracies are Norway, Sweden, and The Netherlands.

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C J

Lvl 5
3y ago

I would argue that economic liberalism is the compliance of capitalism but supporting a higher regulation on companies while cultural liberalism are things most libs agree with (lgbtq rights, Black Lives Matter, pro choice rights)

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Q: What is the difference between a social democratic and a liberal government?
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