Even though liberalism and democracy are not the same thing, the former containts within itself the seeds of its own democratization. Once the liberal principles were accepted in politics, the property qualifications of voting were gradually removed and the universal suffrage became inevitable. Other barriers, such as the exclusion of women, were also removed subsequently. History proved that decion-making by majorities did not undermine the economic basis of prosperity. If anything, the revival of liberalism in the last two decades signals an even more profound understanding of the concept: limiting the excesses of the democratic governments and protecting individual rights are more important that simply translating public sentiment into public policy.