Americans always confuse liberalism and social democracy, which are pretty standard labels for mainstream political movements in Europe. Liberals in Europe are considered people who are against too much state interference in the economical process as well as people’s private lives, which ranges from conservative to tolerant in matters of a religious, moral and societal nature. Social democracy basically says: society first, the individual comes secondly, as opposed to the individual subordinate to the state, which is socialism. Long time ruling parties such as the SPD in Germany are typical social-democrats (businesses usually thrive). You might say that Labour in the UK made the switch from social democracy under Tony Blair to more socialist under Jeremy Corbyn. He wants to undo the privatization that took place under previous governments.

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