The term market liberalism is used in two distinct ways. In the United States, the term is used as a synonym to classical liberalism. In this sense, market liberalism depicts a political ideology, combining a

market economy A market economy is an economic system in which the decisions regarding investment, production and distribution to the consumers are guided by the price signals created by the forces of supply and demand, where all suppliers and consumers ...

with personal liberty and human rights in contrast to social liberalism which combines personal liberty and human rights along with a mixed economy and welfare state. In Europe and elsewhere, the term ''market liberalism'' is often used as a synonym to economic liberalism, depicting a policy supporting the economic aspects of liberalism, without necessarily including the political aspects of liberalism. In some political spheres, market liberalism refers to an economically liberal society that also provides a minimal to moderate-sized welfare state for its citizens."What Is a Liberal Market Economy?"

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