Political Science Modern Theory
Professor James Stone
May 10, 2014
Introduction
During the 20th Century the old type of economic system Feudalism, became virtually extinct. At this time two powerful economic systems came to be. First the command economy, which involved more government control of the economy, and second was the market type which believed in free trade and no regulation. This led to a new economic world order which changed the ideologies at the time. Socialism is regarded as the more left wing radicalization of liberalism. Socialism starts on the normative principles that started the bourgeois revolution. Liberal society seeks to embody these ideals of freedom, free trade, and capitalism. Socialism is a more extreme way of pushing forward for liberalism. As Etienne Balibar would say Liberalism’s core values liberty and equality exist in a state of tension with their supposed intentions in the structure of liberal society. This results in a struggle that tends to outrun the limits of liberal capitalism.
For Americans socialism and liberalism have a distinct relationship. That binds the economic power into a market, which allows for trade and profit. But after this the ideologies of liberalism and socialism come into effect. Yet for the Europeans especially the left wing for them the idea of a relationship between these two is scandalous. Liberals see socialists as class enemies and false friends who threaten socialist integrity. The main goal of Liberalism is the concept of Laissez-Faire in its sense it is opposed to the ideas and goals of socialism. “Liberals also associate Socialism with the expansion of the role and scope of state power and corresponding reduction in the relative size and significance of the private sphere”1. They fear that this will
