“The principles of Adam Smith spread throughout Europe, as did the name he used for them, “liberal.” Political movements influenced by Smith took the name “liberal,” the earliest examples occurring around 1809 in Sweden and Spain, and so “liberal” political movements were born, leading eventually to the Liberal Party in Britain. Although the ideas of individual liberty and of what came to be called liberalism had germinated for centuries prior to Smith, in works by such figur...
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