What is argued about the definition of liberalism?

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But did nineteenth century liberalism ever actually exits? Many economic historians argue that during the first three centuries of U.S. history, colonial, state, and federal governments continued to intervene in the economy, in varying degrees, under the more modern definition of liberalism. They argue that during the colonial period government at all levels acted in the public interest and that it could set the "just price" for milling and the price of bread, regulate the purity of beer, establish reasonable ferry charges, and grant monopoly franchises. Colonial governments could set wages and even require work. In the process, many colonial regulations were embedded in common law. To enforce this web of complex rules and regulations, colonial governments used constables and wardens. While many of the colonial regulations had disappeared by the time of the American Revolution (1775Ð1783), the Revolution itself did little to interrupt institutional continuity.