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Economic liberalism is a political and economic philosophy based on strong support for a market economy and private property in the means of production. Although economic liberals can also be supportive of government regulation to a certain degree, they tend to oppose government intervention in the free market when it inhibits free trade and open competition. Economic liberalism has been described as representing the economic expression of classical liberalism. As an economic system , economic liberalism is organized on individual lines, meaning that the greatest possible number of economic decisions are made by individuals or households rather than by collective institutions or organizations. Economic liberalism is associated with free markets and private ownership of capital assets. Historically, economic liberalism arose in response to mercantilism and feudalism. Today, economic liberalism is also considered opposed to non-capitalist economic orders such as socialism and planned economies. Economic liberals commonly adhere to a political and economic philosophy which advocates a restrained fiscal policy and the balancing of budgets , through measures such as low taxes, reduced government spending and minimized government debt. Arguments in favor of economic liberalism were advanced during the Enlightenment , opposing mercantilism and feudalism. The Inequality Trap Fighting Capitalism Instead Of

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William Watson on Canadian elections

In the tumultuous year ofthe national discussion surrounding race and racism in America came to the forefront of popular discourse.

The murder of George Floyd sparked a resurgence in Black activism movements such as Black Lives Matter that seek to address police brutality, systemic read article, and criminal justice reform in the face of the prison industrial complex, all of which disproportionally affect Black Americans. Race and racism have a long history in America, shaping the narrative of our history from slavery The Inequality Trap Fighting Capitalism Instead Of Jim Crow to the present prison industrial complex.

Yet, many of us struggle to fully grasp this reality, often failing to articulate the deep-seated role and construction of race and racism. To help us understand these concepts, though, what if we turned to an unexpected analogy, comparing race with witchcraft? Race and witchcraft are not topics that we typically consider side by side.

Many of us see race as a real and present source of identity, with racism resulting from the intolerance of racial differences. On the other hand, we in the West see witchcraft as an antiquated superstitious belief of the past, used predominantly except in Iceland to oppress women and justify violence Instad them. What could these two concepts have in common? In their seminal book, Racecraft: The Soul of Inequality in American Lifeprofessors and sisters Barbara and Karen Fields offer an insightful history of the construction of race, likening our modern conceptions of race to early modern European beliefs in witchcraft. Composed of a series of previously published essays, the Fields sisters seek to question our common understanding of race in America, deconstructing it as a leftover from 18th and 19th-century pseudo-scientific concepts.

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The Fields sisters push back against modern manifestations of race realism the belief that there are real, immutable The Inequality Trap Fighting Capitalism Instead Of between races of peoplewhich has persisted Insead scientific fields such as biology and medicine. The analogy to witchcraft is thus: just as witchcraft in itself is an imagined relationship that explains complex phenomena, so race is an invention that attempts to group complex individuals into a single category.

We can look back on witchcraft beliefs of the s with an incredulous eye, seeing in hindsight the apparent contradictions, circular reasoning, and violent consequences of such beliefs. Even if we accept that race is a fiction that has no genetic or scientific basis, we still hold onto the logic of racecraft, insisting on real, immutable differences between groups of people based on skin color and genetics.

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In this way, the Fields sisters are trying to get us to stop thinking about race as an ontological inherent to reality, or pre-existing category, but rather look to racism as a practice that creates and sustains these notions of race. Racecraft, then, in here, establishes these racial categories and embeds them into our cultural consciousness, thus serving as an illusory justification for racist acts. As an example, the Fields sisters make a distinction between race and racism, noting that racism is not simply ignorance, hatred, or bigotry.]