Compare and Contrast Liberalism and Socialism Essay

Compare and Contrast Liberalism and Socialism - Essay Example Liberalism on the other hand is a philosophy which is linked or associated with ideas like the individual liberty and equality. Liberalism started in the 17th century though some argue that it has roots much earlier than that. Marcus Aurelius, the emperor of Rome recognized a government which gave freedom of speech and equal rights to all its citizens (Antoninus 3).  It is often difficult to define liberalism because of its diversity and different forms (Young 24) but liberalism has attracted both, support and criticism from people with various thoughts and ideologies. In Northern America, liberalism  most nearly refers to  social liberalism  in contemporary politics. The  Liberal Party  is pointed to be a modern-liberal party (Puddington 142).  Liberalism in The United States of America  traces its history when Franklin Roosevelt was the president of the country. The  New Deal   initiated by Franklin Roosevelt influenced many American presidents in the future inc luding John F. Kennedy. Kennedy was a liberal himself and he said, "a liberal is someone who looks ahead and not behind, someone who welcomes new ideas without rigid reactions and someone who cares about the welfare of the people" (Alterman 32). When Barack Obama won the presidential elections in the year 2008, the economic ties led to the re establishment of social liberalism (Wolfe xiv) In the late 20th century, the â€Å"post industrial economy† created doubts among many about socialism which was in response to the industrial capitalism. During this era, information technology was given a higher bar than labor and material. Because of the doubt, many politicians adopted a â€Å"third way† which would preserve socialism and prevent the class based politics. Politicians who worked towards the promotion of socialism and hence the development of industrial growth includes Tony Blair, Bill Clinton and Wim Kok. (Ball & Dagger). The foremost principle of liberalism is indi vidual freedom. This freedom must be exercised in all phases of life as well as under all political and economic conditions. Socialism on the other hand presses upon an individual’s sociability. It minimizes competition and increases cooperation. Some socialists claim that when humans exploit other humans, the reason for poverty emerges through selfish motives and self interests. Thus, socialism is extremely important for the existence of markets and institutions as it promotes change. With respect to socialism, the role of the government is to make sure that the wealth is being fairly distributed among the masses. Socialism’s most important principle will only be achieved when all the workers of a state will have the same opportunity for economic equality. The relationship between socialism and liberalism is not certain. Socialism began in the 19th century with some strong ideologies and by the writings of Marx. Like liberalism, socialism also broke into many movement s after it was found (Grigsby 119).  Karl Marx did not accept the fundamental aspects of liberalism and also hoped to erase the differences between an individual and the society (Koerner 9). The allocation of resources used towards the making of useful products is socialism. The commodities or