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Liberalism Divisions - Coggle Diagram
Liberalism Divisions
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Neo- Liberalism
Hayek established an absolute certainty that he favoured radical change, not conservative stability.
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Seeks to update principles of classical liberalism within a modern setting aiming to reapply ideas of Adam Smith and Thomas Jefferson to modern societies.
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Spurred on by the crises of both Keynesian economics and welfare spending were brought into question.
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Specifically, neoliberals have demanded a reduction in public spending, facilitated by the privatisation of public services and less regulation of the economy.
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