2. POLITICAL and ECONOMIC LIBERALISM
CRITICSM OF THE OLD REGIME
IDEAS OF POLITICAL LIBERALISM
IDEAS OF ECONOMIC LIBERALISM
LIBERALS CRITISED
Reforms
SERFS and SUBJECTS
MERCANTILISM and PHYSIOCRACY
Guarantee individual rights
Moderate the power of kings
Most important contributions of
Enlightenment and parliamentarism
Montesquieu, Voltaire & Rousseau
Formulated radical criticism --> liberalism
Old Regime
Enlightened thought opposition
Described
The feudal system in their time
Characterised by
Political absolutism
Estate system
Agricultural economic
Based on the primary sector
Serfs
Subjects
Serve the lord
Lowest class
Legal inequality of the estate system
Society divided into
Privileged social groups
The rest -> Commoners of third estate
Survival of a feudal economy
Liberals criticised
Obstacles to development
Caused by fiefdoms
Absolute monarchs & the Church
Power of monarchies
Limited individual rights & freedom
Mercantilism
Physiocracy
More precious metals a kindom owned
More powerful it was
Agriculture
Craft
Exports encouradged
Imports limited
Jean-Baptiste Colbert main theorist
Main source of wealth
Francois Quesnay main theorist
All the inhabitants of a kingdom
Owed obedience/loyality to their king
Old Regime -> criticism
Adam Smith
Group of ideas -> political liberalism
Equality of people before the law
Unalienable individual rights
Division of powers
Sovereignty resides in a nation
Everyone should be
Rights can't be taken away
Liberals argued
People should govern
Subject to the same laws
Including the king
Humans have rights to
Live
Liberty
Property
Freedoms such as
Press, printing, education & assembly
Power -> moderated by individual rights
Separation between
The Church
The state
Elected by voting
Through representatives
Proposed a representative political power
No longer serfs and subjects
They were called citizens
Individuals with rights & duties
Developed "economic liberalism theory
Defended
Freedom of the individual
To produce/buy
Within free market/private property
Law of supply and demand
State should not intervine
It determined
What to produce
How much
At what price
