There are different opinions when it comes to what truly defines liberalism, but you would be hard pressed to find one that does not include the advocacy of a market economy and the right for an individual to own the means of production.

This is because liberalism arose as an alternative to mercantilism, where the state has more control over the economy. Under mercantilism the state had the means to control trade and the production of a large amount of goods meant to control the balance of import and export.

When you combine a market economy with the right of individual ownership over the means of production you end up with capitalism. When the founding fathers of America spoke about the right over personal property, they weren’t only talking about land ownership. That had already been an established right for men of their class in England since the late 17th century. They were speaking about property rights that were currently affecting their own lives, mainly the right to own and operate their businesses without the permit of the government.