Liberalism vs Socialism

“Liberalism has its own history and its own tradition. Socialism has its own formulas and its own aims. Socialism seeks to pull down wealth; Liberalism seeks to raise up poverty. Socialism would destroy private interests; Liberalism would preserve private interests in the only way in which they can be safely and justly preserved, namely, by reconciling them with public right. Socialism would kill enterprise; Liberalism would rescue enterprise from the trammels of privilege and preference. Socialism assails the pre-eminence of the individual; Liberalism seeks, and shall seek more in the future, to build up a minimum standard for the mass. Socialism exalts the rule; Liberalism exalts the man. Socialism attacks capital; Liberalism attacks monopoly. These are the great distinctions which I draw, and which, I think, you will think I am right in drawing at this election between our philosophies and our ideals. Don’t think that Liberalism is a faith that is played out; that it is a philosophy to which there is no expanding future. As long as the world rolls round Liberalism will have its part to play – a grand, beneficent, and ameliorating part to play – in relation to men and States.”

Winston Churchill speech – May 4, 1908. Kinnaird Hall, Dundee