Mod vs Classic Lib

Identify the ideology: "Pure capitalism also resulted, through excessive speculation, in the Great Depression. That is what people mean when they refer to the "bubbles bursting." The government then gave itself the duty of moderating the economy to prevent it from happening again."

• Modern Liberalism
• Classic Liberalism

Identify the ideology: "It has much more to do with social equality. It pushes to give the most people possible access to a modern, high standard of living. It also has values of sustainability and international peace."

• Modern Liberalism
• Classic Liberalism

Reaganomics

• supply-side economics
• demand-side economics

In boom times government raises interest rates & taxes.

• supply-side economics
• demand-side economics

Social safety nets, unions, universal suffrage, government intervention in the economy

• Classic Liberalism
• Modern liberalism
• Neo-conservatism

Monetarism, free-market economy, Thatcherism

• supply-side economics
• demand-side economics

Keynesian economics, New Deal, FDR

• supply-side economics
• demand-side economics

Key turning point that shifts governments from classic liberalism to modern liberalism.

• Industrial Revolution
• Great Depression
• Economic crisis of the 70s

• Supply-side economics
• demand-side economics

Social indicators of a modern liberal state.

• Unions
• Universal Suffrage
• Social Safety Nets
• All of three