Liberalism, democracy, socialism, capitalism. These are all terms used in today’s news reports and throughout Daron Acemoglu’s new book. But what do they mean?
In this exclusive segment for paid subscribers, Acemoglu defines some key concepts and explains how terms like “liberalism” can encompass different meanings.
Acemoglu: “Liberalism is a big tent. I am more concerned with the left-leaning part of liberalism because enabling people to benefit from the progress that liberalism has the capacity to undergird is an emphasis of the liberal part.”
Precision matters.
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