Liberism is a term for the economic doctrine of laissez-faire

Laissez-faire

In economics, laissez-faire describes an environment in which transactions between private parties are free from state intervention, including restrictive regulations, taxes, tariffs and enforced monopolies....

 capitalism

Capitalism

Capitalism is an economic system that became dominant in the Western world following the demise of feudalism. There is no consensus on the precise definition nor on how the term should be used as a historical category...

 first used in English

English language

English is a West Germanic language that arose in the Anglo-Saxon kingdoms of England and spread into what was to become south-east Scotland under the influence of the Anglian medieval kingdom of Northumbria...

 by the Italian-American political scientist

Political science

Political Science is a social science discipline concerned with the study of the state, government and politics. Aristotle defined it as the study of the state. It deals extensively with the theory and practice of politics, and the analysis of political systems and political behavior...

 Giovanni Sartori

Giovanni Sartori

Giovanni Sartori is an Italian political scientist specialized in the study of democracy and comparative politics.-Biography:Born in Florence in 1924. Sartori began his academic career as a lecturer in the History of Modern Philosophy...

.

Sartori imported the term from Italian in order to distinguish between social liberalism

Social liberalism

Social liberalism is the belief that liberalism should include social justice. It differs from classical liberalism in that it believes the legitimate role of the state includes addressing economic and social issues such as unemployment, health care, and education while simultaneously expanding...

, which is generally considered a political ideology often advocating extensive government intervention in the economy, and those liberal theories of economics which propose to virtually eliminate such intervention. In informal usage, liberism overlaps with other concepts such as free trade

Free trade

Under a free trade policy, prices emerge from supply and demand, and are the sole determinant of resource allocation. 'Free' trade differs from other forms of trade policy where the allocation of goods and services among trading countries are determined by price strategies that may differ from...

, neoliberalism

Neoliberalism

Neoliberalism is a market-driven approach to economic and social policy based on neoclassical theories of economics that emphasizes the efficiency of private enterprise, liberalized trade and relatively open markets, and therefore seeks to maximize the role of the private sector in determining the...

, Right-libertarianism

Right-libertarianism

Right-libertarianism names several related libertarian political philosophies which support capitalism. The term is typically used to differentiate privatist based forms of libertarianism from Left-libertarianism; which generally supports forms of economic democracy and...

 and the French

French language

French is a Romance language spoken as a first language in France, the Romandy region in Switzerland, Wallonia and Brussels in Belgium, Monaco, the regions of Quebec and Acadia in Canada, and by various communities elsewhere. Second-language speakers of French are distributed throughout many parts...

 notion of laissez-faire

Laissez-faire

In economics, laissez-faire describes an environment in which transactions between private parties are free from state intervention, including restrictive regulations, taxes, tariffs and enforced monopolies....

.

In Italy, liberism is often identified with the political theories

Political philosophy

Political philosophy is the study of such topics as liberty, justice, property, rights, law, and the enforcement of a legal code by authority: what they are, why they are needed, what, if anything, makes a government legitimate, what rights and freedoms it should protect and why, what form it...

 of Gaetano Mosca

Gaetano Mosca

Gaetano Mosca was an Italian political scientist, journalist and public servant. He is credited with developing the Theory of Elitism and the doctrine of the Political class and is one of the three members constituting the Italian School of Elitists together with Vilfredo Pareto and Robert...

, Luigi Einaudi

Luigi Einaudi

Luigi Einaudi , Cavaliere di Gran Croce decorato di Gran Cordone OMRI was an Italian politician and economist. He served as the second President of the Italian Republic between 1948 and 1955.-Early life:...

 and Bruno Leoni

Bruno Leoni

Bruno Leoni was an Italian classical-liberal political philosopher and lawyer.Besides being editor for the political science journal Il Politico, Leoni was also involved as secretary and later president of the Mont Pelerin Society...

. Internationally, liberism has been advocated by the Austrian school

Austrian School

The Austrian School of economics is a heterodox school of economic thought. It advocates methodological individualism in interpreting economic developments , the theory that money is non-neutral, the theory that the capital structure of economies consists of heterogeneous goods that have...

 of economic theory

Economics

Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...

, for instance by Ludwig von Mises

Ludwig von Mises

Ludwig Heinrich Edler von Mises was an Austrian economist, philosopher, and classical liberal who had a significant influence on the modern Libertarian movement and the "Austrian School" of economic thought.-Biography:-Early life:...

 and Friedrich von Hayek.