<human>:  What is classical liberalism and why is it important?
<bot>: Classical liberalism is an ideology that emphasizes individual liberty, free markets, and limited government. It is important because it ensures that individuals are able to live in a society where their rights and freedom to choose their own destiny are respected, and it gives them the opportunity to pursue their own goals without the interference of others. It is also essential for promoting economic growth, as free markets are more efficient than monopolies and central planning.