… is from page seven of the late Ronald Max Hartwell’s “Introduction” to the 1979 Liberty Fund collection The Politicization of Society (Kenneth S. Templeton, Jr., ed.) (footnote deleted; the internal quotation is from John Maynard Keynes’s “Introduction” to Harold Wright’s 1923 book, Population). :
It was liberalism that released remarkable economic initiative and energy during the industrial revolution, and that produced “the magnificent episode of the nineteenth century.” Liberalism is here used in the classical sense, not in the modern American sense. The fundamental tenet of classical liberalism was the sufficiency of individual self-determination in belief and conduct as the proper basis of economic and political policy.