Write a note on modern Liberalism/Welfarism.

Modern liberalism, often referred to as welfarism, is a political ideology and a branch of liberalism that emerged in response to the changing socio-economic conditions during the late 19th and early 20th centuries. It embodies a belief in the importance of individual liberty, equality, and the role of the state in ensuring social justice and well-being.

At its core, modern liberalism emphasizes the role of government in actively shaping society to promote equality of opportunity and address social inequalities. Unlike classical liberalism that primarily focused on limited government intervention and free-market principles, modern liberalism acknowledges the limitations of unregulated markets in addressing issues such as poverty, healthcare, education, and social welfare.

The key principles of modern liberalism revolve around:

### Individual Liberty and Rights:
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