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Economic liberalism is an economic system organized on individual lines, which means that the greatest possible number of economic decisions are made by individuals or households rather than by collective institutions or organizations.

It includes a spectrum of different economic policies, such as freedom of movement, but it is always based on strong support for a market economy and private property in the means of production. Although economic liberalism can also be supportive of government regulation to a certain degree, it tends to oppose government intervention in the free market when it inhibits free trade and open competition.

https://en.wikipedia.org/wiki/Economic_liberalism