:: wikimiki.org ::

Market Liberalism

Market liberalism

As a market-emphasized descendant of classical liberalism, market liberalism advocates full freedom of markets, without obstacles for monopolies and cartels, and without consumer-protective legislation.

Compare

- Free market economy
- Laissez-faire
- Liberal theory of economics
- Libertarianism
- Classical liberalism
- Neoliberalism

Classical liberalism

Classical liberalism (or alternatively Classic liberalism) is a political school of thought that holds that all rights are held by individuals, and that governments are put into place solely in order to defend those rights. Classical liberals promote the use of restrictive constitutions in the formation of governments, to ensure that their role is constrained to the defense of these rights. "Classical liberalism" can refer to early (approximately pre-1850) liberalism, or it can refer to economic liberalism which is similar to and derived from the historical classical liberals.

Introduction

The classic liberal philosophy places a particular emphasis on the role of property rights in ensuring the rights of the individual, and forms the philosophical underpinning of the free market system. The precepts of classic liberalism were probably best described by John Locke and Adam Smith, and illuminated much of the thought at the time of the American revolution. As a result, the United States Constitution and the United States Declaration of Independence are both documents that embody many principles of classic liberalism. Modern liberalism tends to deviate from this definition of the term "liberal" in that it espouses the use of the power of government to achieve a variety of desirable goals, ranging from social justice to economic equality. The libertarian movement is probably the closest modern derivative of classic liberalism, although other political movements and parties sometimes incorporate its ideals, and often borrow from its rhetoric. The CATO Institute briefly discusses these changes and their views on the term Classical Liberalism, stating from their website: :"Classical liberal" is a bit closer to the mark, but the word "classical" connotes a backward-looking philosophy. Finally, "liberal" may well be the perfect word in most of the world--the liberals in societies from China to Iran to South Africa to Argentina are supporters of human rights and free markets--but its meaning has clearly been corrupted by contemporary American liberals." Classical liberals often prefer to call themselves liberals because they see themselves as the only rightful inheritors of Liberalism.

Origins

Classical liberalism is a political and economic philosophy. With roots in ancient Greek and medieval thought, it received an early expression in the 16th century by the School of Salamanca and its classic formulation in the Enlightenment tradition. The Wealth of Nations (1776) by Scottish philosopher Adam Smith is one of the classic works. Another early expression is the tradition of a Nordic school of liberalism set in motion by a Finnish parliamentarian Anders Chydenius. Classical liberalism tries to circumscribe the limits of political power and to define and support individual liberty and private property. The phrase is often used as a means of delineating the older philosophy called liberalism from modern liberalism, in order to avoid semantic confusion. modern liberalism] Classic Liberalism is close to 18th century Liberalism. The Wealth of Nations (1776) by Adam Smith is considered one of the classic foundations of liberalism. While Adam Smith provides an explanation of liberalism and economics, the legal and philosophical understanding originates with scholars like John Locke and evolves through Thomas Jefferson and James Madison. Immanuel Kant, in the Perpetual Peace, creates an international liberal framework to foster a sustainable world peace. The term "liberal" derived from this time period (generally the 18th and 19th century) with its origination stemming from the belief in individual freedom, economic freedom (including free markets), and limited representative government. This original understanding of the word "liberal" carries the same meaning in some parts of the world, but in others (such as the United States) the meaning and ideology behind Liberalism is ironically the exact opposite (welfare state, tariffs, heavy intervention and regulation into the economy, wage and price controls)of its original meaning. In many countries liberalism holds a position between classical liberalism and American liberalism. Only a few major parties adhere to classical liberalism, most of the liberal parties accept limited government intervention in economics. Perpetual Peace] Classic Liberals include all original liberals such as John Locke, Adam Smith, David Ricardo, Thomas Jefferson, James Madison, John Stuart Mill with his work On Liberty, and even more modern liberals such as Von Mises, Hayek, and Milton Friedman. Classical liberal institutions include the Frasier Institute (Canada), The Hoover Institution (Stanford University), and The Cato Institute to name a few. In Hayek's book The Constitution of Liberty, in the chapter, "Why I am not a Conservative" Hayek tells us that he was not a conservative because he was in fact a liberal; and had refused to give up that label. In the United States the term liberal had changed meaning, and according to Hayek this was because Franklin D Roosevelt had been labeled a socialist and a leftist because of his New Deal Policies. Fearing the consequences of that label, FDR called himself a Liberal instead. Since that day, Liberal in the United States has had a different meaning from the orginal, 18th and 19th century meaning of the word. People who stayed close to this orginal meaning label themselves often "Classic Liberal", "Classical Liberal" or "Libertarian" to avoid confusion (especially in America ).

Classical liberal Philosophy

Classical Liberals subscribe to a very basic and universal understanding of the world and the rights of all humans. Classical Liberals believe in private property, free markets, economic competition, freedom from coercion, limited government (all economic freedom), the rule of law, and individual rights (Natural rights is also used). These are inherent to all people, of all faiths, cultures, societies, ethnicities, and histories and that all peoples are capable of achieving liberal government and liberal societies not just western cultures. (Classical) Liberals prefer a Laissez-faire style of government with a microeconomic focus and understanding of economic operations. Classical Liberals do not believe in wealth transfers, tariffs, or other trade barriers such as quotas, regulated markets (also known as a Mixed economy ), capital controls, wage and price controls. As a general rule these macroeconomic policies (favored by groups varying from Communists, Fascists, Nazis, socialists, social democrats, and liberal Keynesians) reduce the general welfare of society and according to Hayek and Friedman will ultimately reduce and eliminate the political and civil freedoms enjoyed by the people. Conversely, Hayek and Friedman believed that this economic freedom would help build and protect political and civil freedoms. Milton Friedman's Free to Choose and Capitalism and Freedom are examples of this philosophy updated for modern man and woman to understand (classical) liberalism.

Classical Liberalism during the Great Depression and the Rise of Dictatorships

Some liberals, including Friedrich August von Hayek, Milton Friedman, and Von Mises, argued that the great depression was not a result of "laissez-faire" capitalism but a result of too much government intervention and regulation upon the market but also that such intervention can and will lead to international conflict (World War I and World War II) but the rise of totalitarian regimes and the loss of political and civil freedoms. Hayek, in his book The Road to Serfdom, believed that the rise of totalitarian regimes, whether they be communist, fascist, or Nazi, were the result of the restriction of economic freedom. Economic freedom was, thus, restricted by government intervention and regulation of the economy. Hayek states: : "…economic planning, conducted independently on a national scale, are bound in the aggregate effect to be harmful even from a purely economic point of view and, in addition to produce serious international friction. That there is little hope of international order or lasting peace so long as every country is free to employ whatever measures it desires in its own immediate interest, however damaging they may be to others…" Hayek, F.A., The Road to Serfdom, The University of Chicago Press, 1944. p. 240. Here Hayek is demonstrating the rationale behind why economic policies like those subscribed to by Keynesian economists can not and could not be compatible to freedom and peace much in the same way Nazis, Fascists, and Communists failed to retain or create free and peaceful states The more economic freedom that was lost, he said, the more civil and political freedom would be lost as well. Hayek's work The Road to Serfdom remains influential, argued against these "Keynesian" institutions, believing that they can and will lead to the same totalitarian governments Keynesians were attempting to avoid. Hayek saw authoritarian regimes such as the fascist, Nazis, and communists, as the same totalitarian branch that sought the elimination of economic freedom. To him the elimination of economic freedom brought about the elimination of political freedom. Thus the differences between Nazis and communists are only rhetorical. The same outcomes could occur in Britain (or anywhere else) if the state sought to control the economic freedom of the individual with the policy prescriptions outlined by people like Dewey, Keynes, or Roosevelt. Nobel Prize winning economists such as Hayek and Milton Friedman have argued for years that economic freedom leads to greater political and civil rights and those governments who control the economy tend to limit economic rights and eventually will limit political, civil rights of their people. Friedman states, :"economic freedom is simply a requisite for political freedom. By enabling people to cooperate with one another without coercion or central direction it reduces the area over which political power is exercised." Friedman, Milton and Rose Friedman, Free to Choose: A Personal Statement, Harcort Brace Janovich, 1980, p. 2-3 Free to Choose]

Classical liberalism, Economic Freedom, and their relationship with Civil and Political Freedoms

Friedrich von Hayek and Milton Friedman stated that economic freedom is a necessary condition for the creation and sustainability of civil and political freedoms. Hayek believed the same totalitarian outcomes could occur in Britain (or anywhere else) if the state sought to control the economic freedom of the individual with the policy prescriptions outlined by people like Dewey, Keynes, or Roosevelt. (Classical) liberal studies by the Canadian conservative Fraser Institute, the American conservative Heritage Foundation, and the Wall Street Journal argue that there is in fact a relationship between economic freedom and political and civil freedoms as Friedrich von Hayek had once said. They agree with Hayeks statement that those countries which restrict economic freedom ultimately restrict civil and political freedoms. On the other hand, economic freedom does not necesarily imply civil and political freedom. FA Hayek and Milton Friedman have both observed that economic freedom is a necessary condition for the creation and sustainability of civil and political freedoms. This has been observed through history over the last century; easily seen by the atrocities committed by the least economically free countries in the world which include Nazi Germany, Soviet Russia, Communist China, Khmer Rouge Cambodia... Hayek believed the same totalitarian outcomes could occur in Britain (or anywhere else) if the state sought to control the economic freedom of the individual with the policy prescriptions outlined by people like Dewey, Keynes, or Roosevelt. The facts of history in the post-war era affirmed in his vision the accuracy of his thesis. Clement Atley's Labour Party, after winning a land slide election in post was England, encouraged private buisness owners to hand over their property, nationalized many industries, instituted wage and price controls, and even attempted to place restrictions on their citizens ability to seek employment at will, by requiring citizens to seek permission from the central government. Another example, in the 1960s the Labour Government of Harold Wilson placed a limit of £30 on money people could take abroad to avoid the consequences of an inflatonary policy pursued to create full-employment. Nevertheless, British democratic institutions survived and in 1979 a radical Conservative government led by Margaret Thatcher was elected, which, sometimes painfully, re-liberalised the economy. Recent empirical studies by the Frasier Institute, Heritage Foundation, and the Wall Street Journal argued that there is in fact a relationship between economic freedom and political and civil freedoms as Friedrich von Hayek had once observed. As he stated, those countries which restrict economic freedom ultimately restrict civil and political freedoms.
- http://www.fraserinstitute.ca/shared/readmore.asp?sNav=pb&id=789
- http://www.heritage.org/research/features/index/

Classical liberalism and rhetorical liberalism as practiced in the United States

In the United States the Republican Party has paid lip service to classical liberal philosophy since New Deal era. However, Republican president, Richard Nixon proved to be no friend of classical liberal philosophy by instituting price controls on goods during an economic crisis in the 1970s. The Democratic Carter administration oversaw the deregulation of the airline industry while also restricting the money supply (a harsh monetarist policy) to combat stagflation which plagued the United States. Many small liberal gains were achieved under Ronald Reagan in the 1980's as liberalism gained steam world wide, but the country continued to mount a national debt because of an embalanced budget. The Democrats, under Bill Clinton, took things a little further, balancing the U.S. budget, created NAFTA, and influenced the birth of the GATT94 WTO all of which helped usher in a prosperous decade for the United States. Despite these strides toward liberalism the changes have been small. Neither the Democrats nor the Republicans consider themselves to be classical liberal parties. The Libertarian Party is a party in the United States that whole heartedly supports classical liberalism. However, it has little influence and only a small chance of putting an official in the White House or Congress. Within the United States, classical liberalism is rhetorically confused with conservatism. The CATO Instutite states from its website :" Only in America do people seem to refer to free-market capitalism--the most progressive, dynamic, and ever-changing system the world has ever known--as conservative. Additionally, many contemporary American conservatives favor state intervention in some areas, most notably in trade and into our private lives." According to most classical liberals, modern liberalism as it is practiced, is mostly rhetorical lip service to liberalisms highest ideals of freedom, rather than a function of its basic assumptions: the free market. See liberalism for further understanding.
See also

- Austrian School
- Capitalism
- Chicago school
- Deregulation
- Free market
- Globalization
- Privatization
- Liberalization
- Marketization
- Liberalism
- Libertarianism
- Paleoliberalism
External articles

- [http://www.angelfire.com/rebellion/oldwhig4ever/ Liberalism] by Friedrich Hayek
- http://www.fraserinstitute.ca/shared/readmore.asp?sNav=pb&id=789
- http://www.heritage.org/research/features/index/ Category:liberalism Category:Political theories

Free market

A free market is a market where all exchanges are made without coercion; all trades are voluntary. A free market may be said to exist for exchange of a single pair of commodities (for example, money being freely exchanged for bananas at a mutually agreed upon ratio), or the term may be used to refer to an entire economy. Since no national economy in existence fully manifests the ideal of a free market as theorized by economists and ethicists, the term free market economy is used for a nation state's economy that approximates the ideal by virtue of having a government that engages in little or no interventionist economic regulation. If such a government intervenes in private affairs, it only does so to stop coercion that may take place among market participants. As this protection must be funded, such a government taxes only the extent necessary to perform this function. This state of affairs is also known as laissez-faire. In economics and political economy, this is the polar opposite of a command economy all goods and services are produced, and distributed, and priced under government control. Whether the marketplace should or is free is also disputed; many assert that government intervention is necessary to remedy market failure that is held be an inevitable result of absolute adherence to free market principles. Internationally, free markets are advocated by proponents of economic liberalism; in Europe this is usually simply called liberalism. In the United States, support for free market economic structures is a key tenet of U.S. conservatism and libertarianism. Since the 1970s, promotion of a global free-market economy, deregulation and privatisation, is often described as neoliberalism. The term free market economy is sometimes used to describe some economies that exist today, but pro-market groups would only accept that description if the government practices laissez-faire policies, rather than state intervention in the economy. An economy that contains significant economic interventionism by government, while still retaining some characteristics found in a free market, is often called a mixed economy. Since the emergence of a distinct economic system in the Soviet Union, the free market is usually contrasted to a command economy and a centrally planned economy. However, early proponents of a market economy in 18th-century Europe contrasted it with the mediaeval, early-modern, and mercantalist economies which preceded it. For social philosophy, a free market is a system for allocating goods within a society: supply and demand within the market determine who gets what, and what is produced. A free market does not require the existence of competition, however it does require the competition is not being prevented by coercion. Hence, in the lack of coercive barriers it is generally understood that competition flourishes in a free market environment. It often connotates the presence of the profit motive, although neither a profit motive or profit itself necessary for a free market;. All modern free markets are understood to include entrepreneurs, both individuals and businesses. Typically, a modern free market economy would include other features, such as a stock exchange and a financial services sector, but they do not define it.

Origins

Some theories assume that a free market is a natural form of social organization, and that a free market will arise in any society where it is not obstructed. The consensus among economic historians is that the free market economy is a specific historic phenomenon, and that it emerged in late mediaeval and early-modern Europe. Some economic historians see elements of the free market in the economic systems of Classical Antiquity, and in some non-western societies. By the 19th century the market certainly had organized political support, in the form of laissez-faire liberalism. However, it is not clear if the support preceded the emergence of the market, or followed it. Some historians see it as the result of the success of early liberal ideology, combined with the specific interests of the entrepreneur. In Marxist theory, the ideology simply expresses the underlying long-term transition from feudalism to capitalism. Note that the views on this issue - emergence or implementation - do not necessarily correspond to pro-market and anti-market positions. Libertarians would dispute that the market was enforced through government policy, since that has a connotation of repression, and Marxists agree with them, for different reasons.

Theory

The law of supply and demand predominates in the idealized free market, influencing prices toward an equilibrium that balances the demands for the products against the supplies. At these equilibrium prices, the market distributes the products to the purchasers according to each purchaser's use (or utility) for each product and within the relative limits of each buyer's purchasing power. The necessary components for the functioning of an idealized free market include the complete absence of artificial price pressures from taxes, subsidies, tariffs, or government regulation (other than protection from coercion and theft), and no government-granted monopolies (usually classified as coercive monopoly by free market advocates) like the United States Post Office, Amtrak, arguably patents, etc. This equilibrating behaviour of free markets makes certain assumptions about their agents, for instance that they act independently. Some models in econophysics have shown that when agents are allowed to interact locally in a free market (ie. their decisions depend not only on utility and purchasing power, but also on their peers' decisions), prices can become unstable and diverge from the equilibrium, often in an abrupt manner. The behaviour of the free market is thus said to be non-linear (a pair of agents bargaining for a purchase will agree on a different price than 100 identical pairs of agents doing the identical purchase). Speculation bubbles and the type of herd behaviour often observed in stock markets are quoted as real life examples of non-equilibrium price trends. Free-market advocates, especially Austrian school followers, often dismiss this endogenous theory, and blame external influences, such as weather, commodity prices, technological developments, and government meddling on non-equilibrium prices. The distribution of purchasing power in an economy depends to a large extent on social class, labor and financial markets, but also on other , lesser factors such as family relationships, inheritance, gifts and so on. Many theories describing the operation of a free market focus primarily on the markets for consumer products, and their description of the labor market or financial markets tends to be more complicated and controversial. The free market can be seen as facilitating a form of decision-making through what is known as dollar voting, where a purchase of a product is tantamount to casting a vote for a producer to continue producing that product. The effect of economic freedom on society's and individuals' wealth remains a subject of controversy. Kenneth Arrow and Gerard Debreu have shown that under certain idealized conditions, a system of free trade leads to Pareto efficiency. Many advocates of free makets, most notably Milton Friedman, have also argued that there is a direct relationship between economic growth and economic freedom, though this assertion is much harder to prove both theoretically and empirically. Joshua Epstein and Robert Axtell have attempted to predict the properties of free markets in an agent-based computer simulation called sugarscape. They came to the conclusion that, again under idealized conditions, free markets lead to a Pareto distribution of wealth.

Practice

While the free-market is an idealized abstraction, it is useful in understanding real markets whether artificially created and regulated by governments or non-governmental agencies, or phenomena such as the black market and the underground economy, which can be remarkably robust in persisting despite attempts to suppress these markets.

The degree of market freedom

The Heritage Foundation, a conservative think tank, tried to identify the key factors which allow to measure the degree of freedom of economy of a particular country. In 1986 they introduced Index of Economic Freedom, which is based on some fifty variables. This and other similar indices do not define a free market, but measure the degree to which a modern economy is free, meaning in most cases free of state intervention. The variables are divided into the following major groups:
- Trade policy,
- Fiscal burden of government,
- Government intervention in the economy,
- Monetary policy,
- Capital flows and foreign investment,
- Banking and finance,
- Wages and prices,
- Property rights,
- Regulation, and
- Informal market activity. Each group is assigned a numerical value between 1 and 5; IEF is the arithmetical mean of the values, rounded to the hundredth. Initially, countries which were traditionally considered capitalistic received high ratings, but the method improved over time. Today one can see a vivid correlation between EOF value and country's GDP. http://www.heritage.org/research/features/index/downloads/economicFreedomandPerCapita.gif

Ideology and ethics

Support for the free market as an ordering principle of society is above all associated with liberalism, especially during the 19th century. In Europe, the term 'liberalism' retains its connotation as the ideology of the free market, but in American usage it came to be associated with government intervention, and acquired a pejorative meaning for supporters of the free market. Later ideological developments, such as minarchism and libertarianism also support the free market, and insist on its pure form. Although the Western world shares a generally similar form of economy, usage in the United States is to refer to this as capitalism, while in Europe 'free market' is the preferred neutral term. Marxism, communism, and socialism are usually seen as the main ideological opponents of the free market. Modern liberalism (American usage), and in Europe social democracy, seek only to mitigate what they see as the problems of an unrestrained free market, and accept its existence as such. To most right-wing libertarians, there is simply no free market yet, given the degree of state intervention in even the most 'capitalist' of countries. From their perspective, those who say they favor a "free market" are speaking in a relative, rather than an absolute, sense -- meaning (in libertarian terms) they wish that coercion be kept to the minimum that is necessary to maximize economic freedom (such necessary coercion would be taxation, for example) and to maximize market efficiency by lowering trade barriers, making the tax system neutral in its influence on important decisions such as how to raise capital, e.g., eliminating the double tax on dividends so that equity financing is not at a disadvantage vis'a'vis debt financing. However, there are some such as anarcho-capitalists who would not even allow for taxation and governments, instead preferring protectors of economic freedom in the form of private contractors. The ethical justification of free markets takes two forms. One appeals to the intrinsic moral superiority of autonomy and freedom (in the market), see deontology. The other is a form of consequentialism - a belief that decentralised planning by a multitude of individuals making free economic decisions produces better results in regard to a more organized, efficient, and productive economy, than does a centrally-planned economy where a central agency decides what is produced, and allocates goods by non-price mechanisms. An older version of this argument is the metaphor of the Invisible Hand, familiar from the work of Adam Smith, although it is older. In Smith's time there were no centrally planned economies to serve as a comparison, he was simply arguing that the market benefits the common good. Modern theories of self-organization say the internal organization of a system can increase automatically without being guided or managed by an outside source. When applied to the market, as an ethical justification, they are appealing primarily to its intrinsic value as a self-organising entity. Intense admiration for these abilities of the market became a characteristic of some pro-market argument in the 1990's, especially among those who saw the internet as a form of perfect market.

External links

- [http://www.econlib.org/library/Enc/FreeMarket.html Free Market] by Murray N. Rothbard
- [http://www.freemarketdoctors.blogspot.com Free Market Doctors] Utilizing the ideals of a free-market economy to revitalize the healthcare industry
- [http://globalpolitician.com/articles.asp?ID=145 In Defense of the Free Market]
- [http://www.mises.org Mises.org] is the official website of the Ludwig von Mises Institute for Austrian economics and classical liberalism
- [http://www.heritage.org/research/features/index/ IEF]
- [http://www.sprott.com/pdf/pressrelease/TheVisibleHand.pdf Move Over, Adam Smith: The Visible Hand of Uncle Sam] Report concludes that the U.S. government surreptitiously intervenes in the American stock market
- [http://www.fff.org/freedom/0292d.asp Fair versus Free] by Milton Friedman Category:Markets ja:自由市場 th:ตลาดเสรี

Liberal theory of economics

The liberal theory of economics is the theory of economics described by classical liberal authors such as Anders Chydenius, Adam Smith and the French Physiocrats. It is concerned with "natural liberty" as understood by these authors. Though Smith never used the term, today it is commonly known as laissez-faire. The concept of economic liberalism underpinned the move towards a free market economic system, and the subsequent demise of the mercantilist system. Private property and individual contracts form the basis of the liberal theory of economics. The theory also states that individuals act primarily out of self-interest, and that allowing them to do so without any restrictions will produce the best results, provided that minimum standards of public information and justice exist. The classical liberal line in economics has been taken up by modern economists of the Austrian School, and its combination with the open society and democracy is what is understood as liberalism in most of the world outside the United States. In the US itself, liberal economics is usually usually referred to as 'economic conservatism' or 'free-market ideology'. Liberal economics is a core belief in the Republican Party and Libertarian Party rather than the more social-market economics of the Democratic Party Category:Economic theories Category:Liberalism

- Libertarianism

Classical liberalism

Introduction

Origins

Classical liberal Philosophy

Classical Liberalism during the Great Depression and the Rise of Dictatorships

Classical liberalism, Economic Freedom, and their relationship with Civil and Political Freedoms

Classical liberalism and rhetorical liberalism as practiced in the United States

The Economist

The Economist is a weekly news and international affairs publication of The Economist Newspaper Limited in London. It has been in continuous publication since September 1843. As of 2004, its average circulation topped one million copies a week, about half of which are sold in North America. According to its contents page, its goal is to "take part in a severe contest between intelligence, which presses forward, and an unworthy, timid ignorance obstructing our progress." Subjects covered include international news, economics, politics, business, finance, science and technology and the arts. The publication is targeted at the high-end "prestige" segment of the market and counts among its audience influential business and government decision-makers. It takes a strongly argued editorial stance on many issues, especially support for fiscal conservativism; it thus practises advocacy journalism. The Economist calls itself a newspaper. This reflects its legal status under longstanding company registration laws in its home territory, England. Unlike most newspapers it is printed in magazine form on glossy paper, like a newsmagazine. The Economist belongs to The Economist Group. The publication interests of the group include the CFO brand family as well as European Voice [http://www.europeanvoice.com] and Roll Call [http://www.rollcall.com] (known as "the Newspaper of Capitol Hill"). Another part of the group is The Economist Intelligence Unit (EIU) [http://www.eiu.com], a research and advisory company providing country, industry and management analysis worldwide.

Features

The Economists primary focus is world news, politics and business, but it also runs regular sections on science and technology as well as books and the arts. Every two weeks, the newspaper includes, as an additional section, an in-depth survey of a particular business issue, business sector or geographical region. Articles often take a definitive editorial stance and almost never carry a byline. This means that no specific person or persons can be named as the author. Not even the name of the editor (since 1993, Bill Emmott) is printed in the issue. It is a longstanding tradition that an editor's only signed article during his tenure is written on the occasion of his departure from the position. The author of a piece is named in certain circumstances: when notable persons are invited to contribute opinion pieces; when Economist writers compile surveys; and to highlight a potential conflict of interest over a book review. The names of Economist editors and correspondents can be located, however, via the staff pages of the website. The newspaper has a trademark tight writing style [http://www.economist.com/research/StyleGuide/] that is famous for putting a maximum amount of information into a minimum of column inches. The one feature most articles have in common is the concluding witticism. Some have joked that as long as the writers can deliver that, their political or other opinions do not matter. Since 1995, The Economist has published one obituary every week, of a famous (or infamous) person from any field of endeavour. The Economist is famous for its Big Mac index, which uses the price of a Big Mac hamburger sold by McDonald's in different countries as an informal measure of purchasing power parity between two currencies. It has turned out to be a whimsical but surprisingly accurate index for comparison. In January 2004, this index was joined by a Starbucks "tall latte index". The newspaper is also a co-sponsor of the Copenhagen Consensus. Each of the opinion columns in the newspaper is devoted to a particular area of interest. The names of these columns reflect the topic they concentrate on:
- Bagehot (Britain) - named for Walter Bagehot, nineteenth century British constitutional expert and early editor of The Economist.
- Charlemagne (Europe) - named for Charlemagne, founder of the Frankish Empire, an early "European Union".
- Lexington (United States) - named for Lexington, Massachusetts, the site of the beginning of the American War of Independence.
- Buttonwood (finance) - named for the buttonwood tree where early Wall Street traders gathered. This is an online column. Two other regular columns are:
- Face Value: about prominent people in the business world
- Economic Focus: a general economics column frequently based on academic research The magazine goes to press on Thursdays, is available online from Thursday evening GMT, and is available on newsstands in many countries the next day. It is printed in seven sites around the world. The Economist newspaper sponsors yearly "Innovation Awards", now in six categories.
History
The August 5, 1843 prospectus for the newspaper[http://www.economist.com/displaystory.cfm?story_id=1873493], enumerated thirteen areas of coverage that its editors wanted the newspaper to focus on: #Original leading articles, in which free-trade principles will be most rigidly applied to all the important questions of the day. #Articles relating to some practical, commercial, agricultural, or foreign topic of passing interest, such as foreign treaties. #An article on the elementary principles of political economy, applied to practical experience, covering the laws related to prices, wages, rent, exchange, revenue, and taxes. #Parliamentary reports, with particular focus on commerce, agriculture, and free trade. #Reports and accounts of popular movements advocating free trade. #General news from the Court, the Metropolis, the Provinces, Scotland, and Ireland. #Commercial topics such as changes in fiscal regulations, the state and prospects of the markets, imports and exports, foreign news, the state of the manufacturing districts, notices of important new mechanical improvements, shipping news, the money market, and the progress of railways and public companies. #Agricultural topics, including the application of geology and chemistry; notices of new and improved implements, state of crops, markets, prices, foreign markets and prices converted into English money; from time to time, in some detail, the plans pursued in Belgium, Switzerland, and other well-cultivated countries. #Colonial and foreign topics, including trade, produce, political and fiscal changes, and other matters, including exposés on the evils of restriction and protection, and the advantages of free intercourse and trade. #Law reports, confined chiefly to areas important to commerce, manufacturing, and agriculture. #Books, confined chiefly, but not so exclusively, to commerce, manufacturing, and agriculture, and including all treatises on political economy, finance, or taxation. #A commercial gazette, with prices and statistics of the week. #Correspondence and inquiries from the newspaper's readers. In 1845 during Railway Mania, The Economist changed its name to The Economist, Weekly Commercial Times, Bankers' Gazette, and Railway Monitor. A Political, Literary and General Newspaper.[http://www.firstmonday.org/issues/issue8_9/odlyzko/]
Editors
The newspaper was first edited by James Wilson. Herbert Spencer was editor from 1848 to 1853. Wilson's son-in-law, Walter Bagehot, was editor from 1860 to his death in 1877. Since 1938, the editors of the Economist have been:
- Bill Emmott, 1993-
- Rupert Pennant-Rea, 1986-1993
- Andrew Knight, 1974-1986
- Alistair Burnett, 1965-1974
- Donald Tyerman, 1956-1965
- Geoffrey Crowther, 1938-1956
Opinions
Main article: The Economist editorial stance When the newspaper was founded, the term “economism” denoted what would today be termed fiscal conservatism. The Economist generally supports economic liberalism, that is it supports free markets, and opposes socialism. It is in favour of globalisation. Economic liberalism is generally associated with the right, especially outside the United States, but is now favoured by some traditionally left-wing parties, especially the British Labour Party. It also supports social liberalism, which is often seen as left-wing, especially in the United States. This contrast derives in part from The Economist's roots in classical liberalism, disfavouring government interference in either social or economic activity. According to editor Bill Emmott "The Economist's philosophy has always been liberal, not conservative"[http://www.guardian.co.uk/monarchy/story/0,2763,408484,00.html]. In modern terms its stance has traces of libertarianism. However, the views taken by individual contributors are quite diverse.
Business
Circulation for the newspaper, audited by Audit Bureau of Circulations (ABC), was 1,038,552 for the first half of 2005. [http://printmediakit.economist.com/Circulation.10.0.html]. Sales inside North America were 51 per cent of the total, with sales in the UK making up 15 per cent of the total and continental Europe 20 per cent. The Economist claims sales, both by subscription and on newstands, in 201 countries. The newspaper consciously adopts an internationalist approach and notes that over 80% of its readership is from outside the UK, its country of publication. The Economist Newspaper Limited is a wholly-owned subsidiary of The Economist Group. One half of The Economist Group is owned by private shareholders, and the other half by the Financial Times, a subsidiary of The Pearson Group. The editorial independence of The Economist is strictly upheld. An independent trust board, which has power to block any changes of the editor, exists to ensure this.
Letters
The Economist frequently receives letters from senior businesspeople, politicians and spokespeople for government departments, Non-Governmental Organisations and pressure-groups. While well-written or witty responses from anyone will be considered, controversial issues will frequently produce a torrent of letters. For example, the survey of Corporate Social Responsibility, published January 2005, produced largely critical letters from Oxfam, the UN World Food Programme, UN Global Compact, the Chairman of BT, an ex-Director of Shell and the UK Institute of Directors.

Censorship of The Economist

Sections of The Economist criticising authoritarian regimes, such as China, are frequently removed from the newspaper by the authorities in those countries. Nelson Mandela stated that he used to receive The Economist while imprisoned in South Africa until the authorities there realised that it was not restricted to covering economic issues and was taking a very strong line against the apartheid regime. The government of Saudi Arabia (among others) censors the magazine, which often appears on newsstands with missing pages. Some issues (such as one covering King Fahd's death in 2005) were banned from the kingdom. Robert Mugabe's government in Zimbabwe went further, and imprisoned The Economist's correspondent there, charging him with violating an infamous statute against "publishing untruth". The Economist has frequently criticised figures and countries deemed corrupt. In recent years, for example, it has been critical of Silvio Berlusconi, Italy's Prime Minister (who dubbed it The Ecommunist [http://www.indymedia.org.uk/en/2005/09/324682.html]); Laurent Kabila, the late president of the Democratic Republic of the Congo; and Robert Mugabe, the head of government in Zimbabwe. The Economist also called for Donald Rumsfeld's resignation after the emergence of the Abu Ghraib torture and prisoner abuse.
Further reading

- Edwards, Ruth Dudley. The Pursuit of Reason: The Economist 1843–1993. London: Hamish Hamilton, 1993.
See also

- Newsweek
- TIME
- New Statesman
External links

- [http://www.economist.com/ Economist.com] homepage of The Economist
- [http://www.fipp.com/1667 How The Economist made a million] an article in Fipp Magazine World on how The Economist was able to reach one million subscribers world-wide.
- [http://www.economistgroup.com/ The Economist Group] website providing group information and links to all group publications such as CFO, Roll Call and European Voice
- [http://www.swan.ac.uk/history/teaching/teaching%20resources/An%20Gorta%20Mor/current%20views/Economist93.htm Economist 1993] Ruth Dudley Edwards’ retrospective on The Economist, written on the occasion of its 150th year of publication
- [http://www.ebusinessforum.com/ ebusinessforum] Part of the Economist Intelligence Unit. Has free articles from The Economist Economist, The Economist, The Economist, The Economist, The ja:エコノミスト

Category:Liberalism

Category:political theories

Steve Bauer

Steve Bauer (Sainte-Catherines, 12 juni 1959) is een voormalig Canadees wielrenner. Deze Canadees was o.a. een aantal jaren ploeggenoot van Andy Hampsten, Sean Yates, Phil Anderson, Frankie Andreu en zevenvoudig Tour de France winnaar Lance Armstrong bij de Motorola ploeg. Hij won in 1988 een etappe in de Tour de France, maar hij zat ook in de monsterontsnapping van een kopgroep van vier man in de eerste etappe van de Tour van 1990 die uiteindelijk zeer bepalend bleek voor het verdere verloop van de tour. Die etappe werd gewonnen door Frans Maassen voor Ronan Pensec, Claudio Chiappucci en Bauer. Bauer veroverde die dag wel de gele trui en hield die 8 dagen in z'n bezit. Vervolgens reed Pensec 2 dagen in het geel, waarna Chiappucci het geel overnam en dat 8 dagen behield. Pas bij de tijdrit op de voorlaatste dag werd er het een en ander recht gezet. Erik Breukink won die tijdrit, Greg LeMond veroverde het geel en pakte daarmee z'n derde Tourzege. Bauer's bijnaam in het pelotonwas: Gros cul

Belangrijkste overwinningen

1986
- 2e etappe Ronde van Ierland 1988
- 1e etappe Ster van Bessèges
- 8e etappe Ronde van Zwitserland
- 1e etappe Tour de France 1989
- Kampioenschap van Zürich

Tourdeelnames

- 1985 - 10de
- 1986 - 23ste
- 1987 - 74ste
- 1988 - 4de; winnaar 1e etappe
- 1989 - 15de
- 1990 - 27ste
- 1991 - 97ste
- 1993 - 101ste
- 1995 - 101ste

Ploegen

- 1984 - Mengoni
- 1985 - La Vie Claire
- 1986 - La Vie Claire
- 1987 - Toshiba
- 1988 - Weinmann-La Suisse
- 1989 - Helvetia-La Suisse
- 1990 - 7 Eleven-Hoonved
- 1991 - Motorola
- 1992 - Motorola
- 1993 - Motorola
- 1994 - Motorola
- 1995 - Motorola
- 1996 - Saturn Bauer, Steve

rozst�py hotel madrid Barcellona hotel sylwester w g�rach WAKACJE

:: RELATED NEWS ::

Breda-Centrum
Het stadsdeel Breda Centrum is het belangrijkste deel van de stad Breda. Breda Centrum bestaat uit winkelstraten, kantoren en de belangrijkste bezienswaardigheden zoals de Grote Markt van Breda en de Onze Lievevrouwekerk, de gevangenis de Koepel, Begijnhof Breda zijn er.
- de oude visafslag van de oude Haven Het
De Union Internationale des Associations d'Alpinisme (afkorting UIAA) is de overkoepelende organisatie voor alpenverenigingen (vertaling: Internationale Unie van Alpenverenigingen). Een van de doelstellingen van de UIAA is de verhoging van de veiligheid geweest door normen op te stellen voor de sterkte van bijvoorbeeld karabiners, touwen en klimgordels. De UIAA waardering voor klimroutes vereenvoudigt het onderling vergelijken van de moeilijkheidsgraad van een route. De UIAA werd in 1932 in Chamonix in Frankrijk door afgevaardigden uit 18

Market liberalism

Compare

See also

Classical liberalism

Introduction

Origins

Classical liberal Philosophy

Classical Liberalism during the Great Depression and the Rise of Dictatorships

Classical liberalism, Economic Freedom, and their relationship with Civil and Political Freedoms

Classical liberalism and rhetorical liberalism as practiced in the United States

See also

External articles

Free market

Origins

Theory

Practice

The degree of market freedom

Ideology and ethics

See also

Contrast

External links

Liberal theory of economics

Related

Classical liberalism

Introduction

Origins

Classical liberal Philosophy

Classical Liberalism during the Great Depression and the Rise of Dictatorships

Classical liberalism, Economic Freedom, and their relationship with Civil and Political Freedoms

Classical liberalism and rhetorical liberalism as practiced in the United States

See also

External articles

The Economist

Features

History

Editors

Opinions

Business

Letters

Censorship of The Economist

Further reading

See also

External links

Category:Liberalism

Steve Bauer

Belangrijkste overwinningen

Tourdeelnames

Ploegen