Classical liberalism is the philosophy that stresses the importance of the individual liberty and limited government. To that end, the classical liberal believes that government ought to be limited to the extent that its role is only to ensure individual liberty, private property and peaceful exchange in free markets through the rule of law. The classical liberal tradition also tends to be tolerant of others who do not share the same values.
Nigel Ashford - What is Classical Liberalism? - LearnLiberty.org
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