POLS 1000 Study Guide - Midterm Guide: Liberal Democracy, Classical Liberalism, Invisible Hand

• School: York University
• Department: Political Science
• Course: POLS 1000
• Professor: Janice Newton

Document Summary

Strengths and weaknesses of liberal democracy & 21st century prospects: evaluate the strengths and weaknesses of liberal democracy, and the prospects of it rising to the challenges of the twenty-first century. Liberalism is the ideology of the market society that promotes rational government and economic liberty as is conducive to development of market forces and meets the needs of dominant market producers. According to johnston, the liberal democracy is one where power and authority are concentrated in the hands of the few. There are many strengths and weaknesses of a liberal democracy. After evaluating the strengths and weaknesses, the essay will examine the future prospects of a liberal democracy. The strengths are the central principals of classical liberalism. As johnston notes that competition between those in power for limited space, encourages these people to seek the votes of the electorate. Also, competition between businesses drives the economy which in turn increases. Job growth, and creates cheaper better products for consumers.