The term, "liberal" is often misunderstood and has become distorted in recent years. Liberal ideology is based on the liberty and equality of all human beings. It advocates for the equal treatment of individuals under the law regardless of social status, race, ethnicity, sex, or gender. It states that there are many aspects of an individual's life over which governments have no power to regulate. Liberal ideology has had significant impacts on the economy of the US. For example, the ideology created the political theories necessary for such concepts as the free market and private property. These institutions and practices have become integral to American identity. The term 'liberal' has been given a different meaning in popular political discourse compared to its technical philosophical definition. While Democrats and Republicans have diverging political views, they both adhere to the ideology of liberalism. It is the dominant political philosophy in the US. In fact, most political parties are based on liberalism. The differences in party beliefs and policies stem from definitions of what makes a natural positive right and how exactly the government should protect the natural rights of citizens, although these differences can naturally create divergences in other facets of liberalism, such as the rule of law. Liberalism has had a significant effect on the world. Aside from the United States, many other countries have adopted liberalism, including: the United Kingdom, South Africa, Germany and France. Liberalism is possibly the most-adopted political ideology in the modern world.