Liberalism can be defined as social and political philosophy which emphasizes liberty, freedom and equal rights of an individual. Individualismcomprehends hypothesis of nature of human, value-system and faith in few economical political, classical, religious and social arrangements. Few fundamental views which are supported by liberals are like constitutions, rights of human, liberal-democracy, fair and free election, trade being free, capitalism and free religion. There are various types of liberalism among which few are mentioned here below: -
Classical Liberalism- It is described as philosophy attached to limited-government ideal and individual’s liberty including speech’s, religion’s, press’s, free-market’s and assembly’s freedom. It came into existence in 19th century and refers to liberalism’s all types before 20th century. It distinguished liberalism in earlier 19th century from new social-liberalism.
Economic Liberalism – It is classical-liberalism’s economic constituent. It is regarded as economic doctrine which promotes and supports economy of laissez-faire and private belongingness in production means. Its proponents believe that social and political freedom cannot be separated from economic-freedom. At a certain degree though it can provide support to regulations of government still it opposes interventions of government in free-market which inhibits competition and free-trade.
Political Liberalism – It is update of milepost book named Theory of Justice by Rawl. Rawl attempted to throw a picture that theory of his with conception of liberal is compatible.
Social Liberalism – Is a type of liberalism which believes that social-justice should be included in liberalism. Under this liberalism communities good is observed as proportionate with individual’s freedom. Its policies are widely acquired by many capitalist countries.
Modern Liberalism – It unites social-progressivism and social-liberalism with those which supports for state’s welfare and mixed-economy.
Neo Liberalism – It gives a description of market-driven access to social and economy policy which is based on economy’s neoclassical-theories which stresses private organization’s efficiency, trade which is liberalized and open-markets.