Classical liberalism

Classical liberalism is a political ideology and a branch of liberalism which advocates civil liberties and political freedom with representative democracy under the rule of law and emphasizes economic freedom.

Classical liberalism developed in the 19th century in Europe and the United States. Although classical liberalism built on ideas that had already developed by the end of the 18th century, it advocated a specific kind of society, government and public policy as a response to the Industrial Revolution and urbanization. Notable individuals whose ideas have contributed to classical liberalism include John Locke,Jean-Baptiste Say, Thomas Malthus, and David Ricardo. It drew on the economics of Adam Smith and on a belief in natural law,utilitarianism, and progress.

Meaning of the term

The term classical liberalism was applied in retrospect to distinguish earlier 19th-century liberalism from the newer social liberalism. The phrase classical liberalism is also sometimes used to refer to all forms of liberalism before the 20th century, and some conservatives and libertarians use the term classical liberalism to describe their belief in the primacy of individual freedom and minimal government. It is not always clear which meaning is intended.

Milton Friedman

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.

Sargon of Akkad

Sargon of Akkad, also known as Sargon the Great "the Great King" (Akkadian 𒈗𒁺 Šarru-kīnu, meaning "the true king" or "the king is legitimate"), was a Semitic Akkadian emperor known for his conquest of the Sumerian city-states in the 24th and 23rd centuries BCE. The founder of the Dynasty of Akkad, Sargon reigned during the penultimate quarter of the third millennium BC. Cuneiform sources agree that he was cup-bearer (official in charge of wine) of king Ur-Zababa of Kish, and some later historians have speculated that he killed the king and usurped his throne before embarking on the quest to conquer Mesopotamia. He was originally referred to as Sargon I until records concerning an Assyrian king also named Sargon (now usually referred to as Sargon I) were unearthed.

Sargon's vast empire is thought to have included large parts of Mesopotamia, and included parts of modern-day Iran, Asia Minor and Syria. He ruled from a new, but as yet archaeologically unidentified capital, Akkad, which the Sumerian king list claims he built (or possibly renovated). He is sometimes regarded as the first person in recorded history to create a multiethnic, centrally ruled empire, although the Sumerians Lugal-anne-mundu and Lugal-zage-si also have a claim. His dynasty controlled Mesopotamia for around a century and a half. He is a well known king of the Akkadians.

Noam Chomsky

Avram Noam Chomsky (/ˈnoʊm ˈtʃɒmski/; born December 7, 1928) is an American linguist, philosopher, cognitive scientist, historian, logician, social critic, and political activist. Sometimes described as "the father of modern linguistics," Chomsky is also a major figure in analytic philosophy, and one of the founders of the field of cognitive science. He has spent most of his career at the Massachusetts Institute of Technology (MIT), where he is Institute Professor Emeritus, and is the author of over 100 books, primarily on politics and linguistics. Ideologically, he aligns with anarcho-syndicalism and libertarian socialism.

Born to a middle-class Ashkenazi Jewish family in Philadelphia, Chomsky developed an early interest in anarchism from alternative bookstores in New York City. At the age of sixteen he began studies at the University of Pennsylvania, taking courses in linguistics, mathematics, and philosophy. He married fellow linguist Carol Schatz in 1949. From 1951 to 1955 he was appointed to Harvard University's Society of Fellows, where he developed the theory of transformational grammar for which he was awarded his doctorate in 1955. That year he began teaching at MIT, in 1957 emerging as a significant figure in the field of linguistics for his landmark work Syntactic Structures, which laid the basis for the scientific study of language, while from 1958 to 1959 he was a National Science Foundation fellow at the Institute for Advanced Study. He is credited as the creator or co-creator of the universal grammar theory, the generative grammar theory, the Chomsky hierarchy, and the minimalist program. Chomsky also played a pivotal role in the decline of behaviorism, being particularly critical of the work of B. F. Skinner.