- published: 19 Aug 2009
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Political freedom (also known as a political autonomy or political agency) is a central concept in history and political thought and one of the most important features of democratic societies. It was described as free of oppression or coercion; the absence of disabling conditions for an individual and the fulfillment of enabling conditions; or the absence of life conditions of compulsion, e.g. economic compulsion, in a society. Although political freedom is often interpreted negatively as the freedom from unreasonable external constraints on action, it can also refer to the positive exercise of rights, capacities and possibilities for action, and the exercise of social or group rights. The concept can also include freedom from "internal" constraints on political action or speech (e.g. social conformity, consistency, or "inauthentic" behaviour.) The concept of political freedom is closely connected with the concepts of civil liberties and human rights, which in democratic societies are usually afforded legal protection from the state.
Liberty, in philosophy, involves free will as contrasted with determinism. In politics, liberty consists of the social and political freedoms enjoyed by all citizens. In theology, liberty is freedom from the bondage of sin. Generally, liberty seems to be distinct from freedom in that freedom concerns itself primarily, if not exclusively, with the ability to do as one wills and what one has the power to do; whereas liberty also takes into account the rights of all involved. As such, liberty can be thought of as freedom limited by rights, and therefore cannot be abused.
Philosophers from earliest times have considered the question of liberty. Roman Emperor Marcus Aurelius (121–180 AD) wrote of "a polity in which there is the same law for all, a polity administered with regard to equal rights and equal freedom of speech, and the idea of a kingly government which respects most of all the freedom of the governed." According to Thomas Hobbes, "a free man is he that in those things which by his strength and wit he is able to do is not hindered to do what he hath the will to do" (Leviathan, Part 2, Ch. XXI).
Milton Friedman (July 31, 1912 – November 16, 2006) was an American economist who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy. With George Stigler and others, Friedman was among the intellectual leaders of the second generation of Chicago price theory, a methodological movement at the University of Chicago's Department of Economics, Law School, and Graduate School of Business from the 1940s onward. Several students and young professors that were recruited or mentored by Friedman at Chicago went on to become leading economists; they include Gary Becker, Robert Fogel, and Robert Lucas, Jr..
Friedman's challenges to what he later called "naive Keynesian" theory began with his 1950s reinterpretation of the consumption function. In the 1960s, he became the main advocate opposing Keynesian government policies, and described his approach (along with mainstream economics) as using "Keynesian language and apparatus" yet rejecting its "initial" conclusions. He theorized that there existed a "natural" rate of unemployment, and argued that employment above this rate would cause inflation to accelerate. He argued that the Phillips curve was, in the long run, vertical at the "natural rate" and predicted what would come to be known as stagflation. Friedman promoted an alternative macroeconomic viewpoint known as "monetarism", and argued that a steady, small expansion of the money supply was the preferred policy. His ideas concerning monetary policy, taxation, privatization and deregulation influenced government policies, especially during the 1980s. His monetary theory influenced the Federal Reserve's response to the global financial crisis of 2007–08.
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