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(New Liberalism) Progressive social reforms of liberal governments after 1908. Its principal exponents were David Lloyd George and Winston Churchill. Present-day n. admits many variants, running from completely unrestricted open markets, the extreme submission to so-called “natural” laws of supply and demand, and the crassest monetarism, to some degree of interventionism, including subsidies for national production, stimulating public spending and alignment of the economy toward certain areas of production. Theoreticians of n. are currently arguing for the need to discipline societies by eliminating the benefits and entitlements of social security, health care, free education, and unemployment benefits, and without generating new sources of employment. These cuts in public spending and massive layoffs are accompanied by increasing taxation measures. At the same time, practitioners of n. are attempting to enmesh all of society in a system of indebtedness involving usurious rates of interest. N. is currently the best tool available to imperialist penetration in its task of eliminating the national state.