Liberalism is a political philosophy that stresses individual liberty, freedom and the equality of opportunity. It has always tended to place its faith in human progress. There ultimately became two liberalisms: the first liberalism of the 18th and 19th century, and the second liberalism of the 19th and 2Oth century. The first liberalism was the classical liberalism developed in Europe in the 18th century, characterized by a rational critique of traditional institutions and a distrust of state power over individuals, and of interference in the economy. The second liberalism was modern liberalism, which accepted state interference in the economy and society for the sake of nurturing individual freedom and equality.
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