[T]here are defects and gaps in a liberal society that are constantly being filled by other longings and... structures... that sometimes end up under… - Francis Fukuyama

The one on the right concerned the shift from an older understanding of economic liberalism to what is now called "neoliberalism." Neoliberalism is not... a synonym for capitalism. I don't see how you can have any kind of modern economy without a market based economy. Neoliberalism took that basic insight and stretched it to an extreme seeking to deregulate, privatize and basically pull back the role of the state, which many neoliberals regarded as simply obstacles to individuals, to entrepreneurship, to economic growth, and as a result markets did their usual work. They produced a great deal of inequality, as... global corporations searched for very small cost advantages by moving jobs to low cost areas... [T]hey destabilized the global economy in certain important ways by deregulating the financial sector. As a result of the deregulation that occurred in the 1980s and 90s we had an escalating series of financial crises. In the sterling crisis, the Asian financial crisis, Argentina, Russia, and finally culminating in the big American subprime crisis in 2008. The... cumulative effects of this instability were political and they were very serious because many ordinary people were hurt... a lot of people lost their homes, lost their jobs, and the elites that ran these big banks and financial institutions suffered only a momentary disruption in their incomes, and went on to continue to dominate their respective economies... [T]his had a direct impact on the rise of populism in subsequent years, both on the right and on the left.

I have been a... classical liberal for most of my life...

Then finally, there's a good economic reason for choosing a liberal society because among the rights that liberalism protects is the right to own private property, to transact, to engage in commerce, and therefore it is the basis of a market economy. Liberal societies like England and the Netherlands in the 17th century, were the leaders in terms of creating the modern economic world precisely because they respected property rights and trade. Even Communist China, when it opened up in... 1978, did so by adopting certain liberal principles. Deng Xiaoping allowed peasants to keep the fruits of their labor, and as a result of those incentives, quasi-property rights, agricultural productivity doubled in the space of 4 years, and in general, the most dynamic parts of this amazing Chinese growth story come from the private sector where people are allowed to buy and sell, and... in effect to own property. So even in a... politically illiberal society, economic liberalism has led to tremendous prosperity. So those are the 3 reasons.