True or False Economic liberalism hlods that global interdependence is a logical consequence of the international expansion of capitalism.
True. Economic liberalism holds that global interdependence is a logical consequence of the international expansion of capitalism. Economic liberalism is an ideology that promotes free markets, free trade, and limited government intervention in the economy. It argues that as capitalism spreads across borders, countries become more interconnected economically, leading to global interdependence.
To determine if this statement is true or false, we need to understand the core principles of economic liberalism and how they relate to global interdependence. Here's how we can break it down:
1. Define economic liberalism: Economic liberalism promotes the idea that individual freedom and free markets are the best mechanisms for economic growth. It emphasizes the importance of private property rights, free trade, and limited government regulation.
2. Understand the international expansion of capitalism: Capitalism is an economic system characterized by private ownership of resources and the pursuit of profit. Historically, capitalism has spread across the globe through trade and investment, facilitated by technological advancements and the growth of multinational corporations.
3. Assess global interdependence: Global interdependence refers to the increasing interconnectedness and mutual reliance between countries in economic, political, and social spheres. This can manifest through trade, investment flows, technological transfers, and cultural exchanges.
Based on these definitions, economic liberalism argues that the international expansion of capitalism naturally leads to global interdependence. As free markets and trade expand, countries become more interconnected as they rely on each other for resources, markets, and economic opportunities. Therefore, the statement that economic liberalism holds that global interdependence is a logical consequence of the international expansion of capitalism is true.