This article was written in 1992 and the tone is probably more hopeful than if it were written now. From Ralph Raico at lewrockwell.com:
[This article appeared in the Future of Freedom Foundation’s Freedom Daily, August 1992]
Classical liberalism—or simply liberalism, as it was called until around the turn of the century—is the signature political philosophy of Western civilization. Hints and suggestions of the liberal idea can be found in other great cultures. But it was the distinctive society produced in Europe—and in the outposts of Europe, and above all America—that served as the seedbed of liberalism. In turn, that society was decisively shaped by the liberal movement.
Decentralization and the division of power have been the hallmarks of the history of Europe. After the fall of Rome, no empire was ever able to dominate the continent. Instead, Europe became a complex mosaic of competing nations, principalities, and city-states. The various rulers found themselves in competition with each other. If one of them indulged in predatory taxation or arbitrary confiscations of property, he might well lose his most productive citizens, who could “exit,” together with their capital. The kings also found powerful rivals in ambitious barons and in religious authorities that were backed by an international Church. Parliaments emerged that limited the taxing power of kings, and free cities arose with special charters that put the merchant elite in charge.