American liberalism

American liberalism (also called modern liberalism) is a political current which claims descent from classical liberalism in terms of devotion to individual liberty, but generally rejects the laissez faire economics of classical liberalism in favor of institutions that promote social and economic equity. It is generally seen as beginning in the first decades of the 20th century, and achieving a political hegemony in the New Deal years that began to decline in the 1970s.

References

• Lewis H. Lapham, "Tentacles of Rage" in Harper's, September 2004, p. 31-41.