Explanation of terms: economic liberalism

Economic liberalism: an economic theory and policy system that advocates market mechanism and opposes human intervention in the economy. It was originally put forward as a slogan by the foreign minister of Louis XV of France. Later, Quesnay and others confirmed that there is a natural order independent of human will in society, which dominates the development of society. Adam Smith advocated the principle of "an invisible hand" and further developed the idea of economic freedom. The thought of "free economy" is the center of Smith's whole economic theory, and Ricardo also expounded the same thought. Economic liberalism is an ideological proposition that has occupied an important position in the capitalist world for a long time.

Extended data:

Economic theory is divorced from economic and social reality through its own existence, first of all, the existence of ideology, and ideology most often appears in the form of pure abstraction and theory, and they especially tend to confuse logical things with the logic of things. Economic theory tends to endow reality with extremely logical myths.

The theoretical analysis of economists has played an important role in the birth of economic liberalism, especially neoliberalism, because it is the theoretical basis for the emergence of economic liberalism. However, the reality is this: not only in most economically developed countries, the proportion of poor people is increasing day by day, but also the income gap is growing abnormally.