Liberalism and republicanism were frequently conflated during this period, because they both opposed absolute monarchy. Modern scholars see them as two distinct streams that both contributed to the democratic ideals of the modern world. An important distinction is that, while republicanism stressed the importance of civic virtue and the common good, liberalism was based on economics and individualism. It is clearest in the matter of private property, which, according to some, can be maintained only under the protection of established positive law.