Before the New Deal , a liberal was someone who believes in property rights, free enterprise , and minimal government. The great twentieth century Harvard University economist Joseph Schumpeter explains the modern day liberal with crystal clarity in his book History of Economic Analysis (page 394) :
since about 1900 and especially since about 1930: as a supreme , if unintended, compliment , the enemies of the system of free enterprise have thought it wise to appropriate its label hiding behind the liberal label.One of the most perceptive insights on political labels in the modern era. Give Senator Bernie Sanders credit, at least he admits he's a socialist unlike those in the U.S. Senate who have virtually identical voting records as Comrade Sanders.
