liberalism source analysis

Source one is positive towards liberalism. Liberalism essentially believes that majority of people has the ability to run their own live and therefore be given the freedom to do so. As well as it also believes that by giving the freedom to people, they will act responsibly and not become avaricious and try getting more than what they are capable of. The source is saying that the ideology of liberalism explains how everyone has the ability to make their own choices in life, due to self-interest and self-reliance, and should be given the freedom to do so. By giving the freedom to people, they will act responsibly and not get too greedy and try getting more than what they are capable to get economically. Self-interest is one’s own personal interest and/or advantages; meaning that one will do something if it benefits them somehow. Self-reliance is the quality of being solely responsible for one’s own wellbeing. Freedom is the power or right to act, speak, or think as one wants without hindrance or restrain. Economics is the branch of knowledge concerned with the production, consumption, and transfer of wealth. The source is looking at liberalism as a good position for people to prosper economically, which will help both the government and citizens. A person that would agree with this source is Scottish philosopher and economist Adam Smith. He believed that if individuals were free to make their own decisions in a free market, their self-interest (invisible hand) would benefit society as a whole. Smith also believed that government should have limited intervention, and should be there only to maintain the rule of law, to ensure contracts are followed, and to provide some public works. Nations with a capitalist ideology follow this ideology. For example, the United States is a nation with a free market were its citizens are free to work wherever they want to, and to do whatever they want with their money. The United States also believe that change is good if it benefits