Noun
economic liberalism (countable and uncountable, plural economic liberalisms)
The ideological belief in organising the economy on individual lines in such a way as to have the greatest possible number of economic decisions made by individuals or households and not by collective institutions or organisations.
Coordinate term: classical liberalism
No authors propounded the ideas of economic liberalism in Sweden during the 1920s as vigorously as did Cassel and Heckscher, and in addition they certainly helped in no mean degree to give actual policy a liberal stamp during that decade. Bertil Ohlin
It is no accident that the Victorian age, the heyday of conventionalism, was the cultural bloom of economic liberalism. Gunnar Myrdal