Classical Liberal Perspective

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Your discussion question is: How significant and relevant is the Classical Liberal Perspective in our contemporary world (based on our Module Required Readings and the 2 articles from your own Internet Research)? Required Reading
The classical liberal perspective has made significant gains throughout the centuries. It is a view shared by many of America’s founding fathers and deeply embedded in the U.S. Declaration of Independence and Bill of Rights (Balsaam, 32). Unfortunately, classical liberal perspective entertains several shortcomings. One of its shortcomings comes from its inability to see through the busts and booms of the economy during recessions and depressions. Classical liberalism views consumers as rational actors and the economy …show more content…
They argue that unfettered access to global markets fail to help the world’s poor and destroy the environment (43). However, Peter Marber points out in his article on globalization that it has increased the amount of wealth for the world’s poor and has also helped significantly increase the world literacy rate from only a third in Eastern Europe and Latin America to more than 3.2 billion people (Marber, 52). He also argues that trade under the classical liberal comparative advantage and free trade perspective show that labor and employment evolve overtime, allowing for temporary unemployment relative to job creation in exports (53). One distinct advantage of globalization that we can see today is the affordability of commodities once considered luxuries. Wendell Bell poses that economic development is necessary for political democracy to flourish (Bell, 2). Bell charges that the historical trend has been an increasingly widened definition of individual identity (7). A global culture is a positive result of capitalism that helps to bring the world together under a community of global …show more content…
This is something that he has often spoken against on his campaign trail, saying that international trade deals like these lead to job losses in America. Speculation has gathered over what this will mean for the 17-year-old North American Free Trade Agreement (Nafta). Rumors say that Trump intends to renegotiate terms with Canada and Mexico. Trump wants to boost exports in America and plans to cut regulations for businesses in the US from 35% to 15% or 20% (The Guardian, 1/23/17). Even Democratic presidential hopeful, Bernie Sanders, has praised Trump’s decision, saying that now is the time to develop trade deals that will benefit the working class and not just multinational corporations.

Newly elected president, Donald Trump has taken shots across the board at globalization and free trade, emptying a space that China intends to fill. Chinese president, Mr. Xi, has spoken this year against protectionism in his speech in Davos, Switzerland at the World Economic Forum and has said that China intends to keep its doors open (Globe and Mail, 1/17/17). In a state that is neither liberal nor democratic, it is unusual to hear policy similar to that of Adam Smith. The rhetoric of Trump’s office has pushed states to open doors and consider China, the world’s second
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