a political philosophy perpetuating free-market economics, minimalist government, strong private property rights, non-interventionism, government disinvolvement in social issues, separation of church and state, and open borders. the word "liberal" was originally associated with these beliefs, but liberals eventually started promoting large government, closed markets, redistribution of wealth, and high government involvement in social issues. today, liberal is associated with the latter qualities. the newer liberals are sometimes identified as neo-liberals. in modern day, a classical liberal tends to self-identify as a libertarian, and the term classical liberal is used much less than it was 100-200 years ago. some libertarian causes, like the Mises institute, still commonly use the term.
by toSTONEiGO March 20, 2012