The term market liberalism is used in two distinct meanings.
Especially in the United States, the term is often used as a synonym to classical liberalism.[1][2] In this sense, market liberalism depicts a political ideology, combining free market economy with personal liberty and human rights, in contrast to social liberalism, which, while also supporting personal liberty and human rights, supports a more mixed economy with state produced public services.
In Europe and elsewhere, the term market liberalism is often used as a synonym to economic liberalism,[3] depicting a policy supporting the economic aspects of liberalism, without necessarily including the political aspects of liberalism.
Although the term "liberalism" retains its original meaning in most of the world, it has unfortunately come to have a very different meaning in late twentieth-century America. Hence terms such as "market liberalism," "classical liberalism," or "libertarianism" are often used in its place in America.
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