My Economic Philosophy

Libertarians are often confused with Anarchists because both have anti-government and pro-individual views. These opinions are reinforced when the party 's primary election issues seem to revolve around what the government shouldn 't be doing, as opposed to what it can do to make the country, and even the world, a better place. For example, ask any Libertarian and they will tell you that a strong federal government is crucial to the protection of life and liberty. Where Libertarians veer away from the other major political parties is that we believe the military should only be used when the nation is in immediate peril and not for “police actions” or “nation-building.”

In relation to the human services field, the four different ideologies take different approaches. Libertarians are anti-collectivists who believe firmly in a free market. Due to this, Libertarians stand against the notion of social security and believe in minimal taxation and government interference in the market/people's lives. Thus, Libertarians would stand as a strong foil to those who support social services and the human services field.

The international political economy can be defined as having three different ideologies, Liberalism, Mercantilism, and Marxism. I personally believe the economic liberalism ideology is superior to the others due to its success. In order to understand why economic liberalism is the most convincing ideology of the international political economy we must look not only at the core principles of said ideologies but towards the history of the international political economy and the flaws and shortcomings of them.

A small amount of the core ideals of libertarians has changed. According to the current Libertarian Party website; “We seek a world of liberty; the world in which all individuals are sovereign over their own lives and no one is forced to sacrifice his or her values for the benefit of others.” This party is notorious for values that are socially liberal, and economically conservative. This platform has also been referred to as neoliberalism. The United States Libertarian party focuses on personal liberty, self-ownership, privacy, economic liberty, free markets, protected environments, strong national defense, and minimal war actions. The LP is supportive of gay rights, gun rights, pro-life ideals. They stand against labor unions; universal health care, restricted markets, government surveillance of citizens, and government provided security. Libertarians like to think of themselves as defensive whenever it comes to foreign policy, and to refrain from attacking unless they are

Libertarianism, in its most general sense, is a political philosophy in which the upholding of individual liberty is the principle objective. More than that, however, Libertarians seek to maximize autonomy and freedom of choice; believing that each individual has the right to make their own choices about how to live their lives – as long as they respect the rights of others to do the same.

Since the government cannot be allowed to command anyone to help another; giving individuals abundant opportunities to achieve economic success through the free market, will allow them to take care of themselves. Since free trade allocates resources in the most efficient manner, government interference is not necessary in access to housing and health care. These services would all be privatized under the Libertarians who trust that they would be most efficiently handled on the free

Libertarians are opposed to using government to promote either order or equality. They recognize the necessity for a government but they believe that it should be limited as much as possible. For instance they oppose setting a minimum drinking age which contrast with current law in which most states have a minimum legal drinking age of 21. Libertarians

This ideology eventually evolved into libertarianism. Libertarianism is most directly connected to the British philosopher John Stuart Mill. Mill felt that government should never get so big that it is encumbered by its bloated size. This ideology places a strong emphasis on liberty. They believe that the market economies are self-regulating and need no government intervention of any kind. The government's sole

James Gwartney’s book, Common Sense Economics, is designed for those who are taking beginning steps to understand the basics of economics. It also provides actual concrete changes that could be made in the economy. This novel gives insight to the bigger picture that involves political rules and policies that go along with that. The context of the book aims to explain why nations prosper depending on people’s understanding of necessary economic arrangements. There are ten elements of economics, seven sources of economic progress, the role of the government, and twelve key elements of practical personal finance. James Gwartney even acknowledges what he wants students to get out of this text which is that:

Every democratic government must find a balance between Libertarian Political Philosophy and the Philosophy of Paternalism. However, in order to understand how the Libertarian Political Philosophy and the Philosophy of Paternalism work in today’s democratic governments, we must understand what the definition of these two philosophies are. Libertarian Political Philosophy (Libertarianism) is a form of philosophy that revolves around the rights of people and a maximization of freedom for them. Paternalism, however, refers to the restrictions and laws that are placed on citizens by some sort of government or agency. For as long as governments have existed, there has been much tension between the two philosophies. It is understood by most people that no person can have unlimited freedom, even if they are the person in charge of the controlling agency.

Definition: Libertarianism is a political philosophy that affirms the rights of individuals to liberty (Vallentyne & van der Vossen, 2014). The basic idea is the individual is in the best position to know what is best for him or her and should be allowed to make choices without undue outside interference. Each person has to decide what is in his or her best interest, and the government should not interfere with personal decisions, especially when it comes to redistribution of wealth and rights (Gibson, 2014, p. 113).

There is a section in the book that states libertarianism as the right to do whatever we want with the things we own, provided we respect others people’s rights to do the same. This concept says that the government would only interfere with contracts, private property protection from theft, and keeping peace in society as written in the this chapter about the concept of libertarianism. Controversies such as gay marriage, abortion, recreational drugs, and prostitution would all be allowed. However, the weak spot is that important laws such

For an economy to thrive it must spend money. The amount of money that is spent can vary greatly from one year to the next. When interest rates are low and reasonable, more loans may be taken and this money is put back into the economy. This influx of monies into the economy can create jobs which lower the unemployment rate. A nation must be able to engage in free trade to help import goods and services that it may be lacking in. When a nation has goods and services that it excels with it can export them to other nations that are in need of them. This import and export cycle determines a nation’s trade balance.

A libertarian society exists to benefit the people. Main characteristics that make up a libertarian society are to maximize political and social freedom, freedom of choice, self-ownership, low to no taxation, individual judgment and voluntary association. Libertarians are very vocal on a lot of issues. Issues they are vocal for are being mostly pro-choice , pro-gun rights, small government enthusiasts (if not anarchists), pro-LGBTQ, they believe in ending the war on drugs, they want to end unjust wars that are only fought for political or financial gain.

What is the best way to earn money. To entrust on someone else like the government or yourself? Two economists, John Maynard Keynes and Friedrich von Hayek had two contrasting views on how the government should handle the market. Keynes believe on the government controlling the market while Hayek wanted the government to stay away from it. Hayek’s economic theory is right because it focuses on us as citizens to have responsibilities towards our money. To be utilized fully in a decentralized market system with free competition and pricing.(1) Then to be able to save money rather keeping money being spent from Keynes’ belief.