Why does a liberal not like contemporary capitalism?
Contemporary capitalism is often called “neoliberal”. Yet, normally, a liberal does not like the characteristics of contemporary capitalism. This is because: It is based on rents (monopoly rents, monetary rents, inheritance rents); It does not correct (does not internalise) externalities linked to the behaviour of economic agents (redundancies, offshoring, CO 2 emissions). The desired reform of contemporary capitalism can therefore be a liberal reform, since a liberal normally hates rents and wants to internalise externalities.