At its core, liberalism advocates for individual freedom, equality, and the rule of law. It champions civil liberties such as freedom of speech, religion, and assembly, laying the foundation for democratic governance and fostering pluralism and tolerance within societies.

Subjective Theory of Value: This theory emphasizes that value is determined by individual preferences, not inherent qualities of goods.

Business Cycle Theory: Mises argued that business cycles were caused by government manipulation of the money supply, particularly through central banks.