To what extent do conservatives agree on the economy?
Intro Yes... disagree Traditional and One nation Yes… disagree
agree…
Broadly all Point (traditional Point (new right)
conservatives endorse conservatives) Point (one nation conservatives) New Right vastly diverge their idea
capitalism, supporting One nation conservative further economy with traditional and one n
a privatised economy Traditional conservatives develop traditional conservatives conservatives, with a determination
and favouring private developed the idea the ideas, through their endorsing abandon government interventionis
enterprise. However, economy should be founded paternalism and exploring a economic and social affairs.
conflicts arise between on pragmatic principles, Keynesian economy, to support a
the different factions with their endorsement of welfare state Neo Liberalism- sees the free marke
when consider what the conservative model of only mechanism that can meet con
type of economy that capitalism, protectionism. - One nation conservatism demands for goods
should be advocated emerged in response to - Government intervention cannot
and the extent of the - Traditional conservatives laissez faire capitalism & economic problems- can make th
state’s role in the worship order, stability industrialisation in the 19th worse
economy. Therefore, and continuity and free century - Inflation is the ‘great evil\ in the
the areas of market capitalism - Endorse limited economy – one vital role governm
disagreement outweigh promotes instability, - interventionist economic can play in politics
the areas of agreement risk and innovation management techniques to - Thatcher (example)- policy of
and it is not credible to - While keen to defend an maintain high employment monetarism- reduction of income
argue conservatives economy based on levels, mixed economy of privatisation of state-owned asse
are united on their private ownership, are private and public concerns & deregulation of industry
views of the economy. sceptical about free state welfare programmes FRIEDMAN- Keynesian policies to cr
market capitalism – - BENJAMIN DISRAELI- demand, stimulate inflation – encou
fearful its effects will capitalism encouraged self- gov to print too much money
create further inequality interested individualism that
and fuel socialist ideas undermined the idea of social Liberal New Right- gov intervention
- Therefore…traditional responsibility economy is most potent threat to th
conservatives support a - Adopted Keynesian economic market,
moderated form of management techniques
, capitalism- free markets - Supported an expanded Key Thinkers
are tempered by state welfare state, with Second Ayn Rand- free market capitalism is
intervention Reform Act 1867 & Artisans expression of objectivist individualis
- Dubbed capitalism’ Dwelling Act 1875 supports a ‘pure, full unregulated’ l
‘reluctant supporters’ faire economy – wish to ‘roll back th
- As capitalism becomes frontiers of the state’
more globalised Key Thinkers
traditional conservs fear Michael Oakeshott- free markets Robert Nozick- monarchist state sho
that that market forces are volatile and unpredictable dethatch itself from the privatised a
promote more deregulated economy
cosmopolitan society – Burke - Taxes to fund welfare state are i
erodes national identity - Trade should involve organic ‘legalised theft’ – means states g
& national culture free markets and laissez faire too involved in people’s lives and
capitalism infringing on their negative freed
- Believed giving economic welfar
poorest created a dependency c
Key Thinkers - Redistribution of wealth underm
individual rights
Hobbes (an influence of - Private property reduces individu
traditional conservatism) dependency on the state
- A state needs to ensure
order and security, for
economic activity
Intro Yes... disagree Traditional and One nation Yes… disagree
agree…
Broadly all Point (traditional Point (new right)
conservatives endorse conservatives) Point (one nation conservatives) New Right vastly diverge their idea
capitalism, supporting One nation conservative further economy with traditional and one n
a privatised economy Traditional conservatives develop traditional conservatives conservatives, with a determination
and favouring private developed the idea the ideas, through their endorsing abandon government interventionis
enterprise. However, economy should be founded paternalism and exploring a economic and social affairs.
conflicts arise between on pragmatic principles, Keynesian economy, to support a
the different factions with their endorsement of welfare state Neo Liberalism- sees the free marke
when consider what the conservative model of only mechanism that can meet con
type of economy that capitalism, protectionism. - One nation conservatism demands for goods
should be advocated emerged in response to - Government intervention cannot
and the extent of the - Traditional conservatives laissez faire capitalism & economic problems- can make th
state’s role in the worship order, stability industrialisation in the 19th worse
economy. Therefore, and continuity and free century - Inflation is the ‘great evil\ in the
the areas of market capitalism - Endorse limited economy – one vital role governm
disagreement outweigh promotes instability, - interventionist economic can play in politics
the areas of agreement risk and innovation management techniques to - Thatcher (example)- policy of
and it is not credible to - While keen to defend an maintain high employment monetarism- reduction of income
argue conservatives economy based on levels, mixed economy of privatisation of state-owned asse
are united on their private ownership, are private and public concerns & deregulation of industry
views of the economy. sceptical about free state welfare programmes FRIEDMAN- Keynesian policies to cr
market capitalism – - BENJAMIN DISRAELI- demand, stimulate inflation – encou
fearful its effects will capitalism encouraged self- gov to print too much money
create further inequality interested individualism that
and fuel socialist ideas undermined the idea of social Liberal New Right- gov intervention
- Therefore…traditional responsibility economy is most potent threat to th
conservatives support a - Adopted Keynesian economic market,
moderated form of management techniques
, capitalism- free markets - Supported an expanded Key Thinkers
are tempered by state welfare state, with Second Ayn Rand- free market capitalism is
intervention Reform Act 1867 & Artisans expression of objectivist individualis
- Dubbed capitalism’ Dwelling Act 1875 supports a ‘pure, full unregulated’ l
‘reluctant supporters’ faire economy – wish to ‘roll back th
- As capitalism becomes frontiers of the state’
more globalised Key Thinkers
traditional conservs fear Michael Oakeshott- free markets Robert Nozick- monarchist state sho
that that market forces are volatile and unpredictable dethatch itself from the privatised a
promote more deregulated economy
cosmopolitan society – Burke - Taxes to fund welfare state are i
erodes national identity - Trade should involve organic ‘legalised theft’ – means states g
& national culture free markets and laissez faire too involved in people’s lives and
capitalism infringing on their negative freed
- Believed giving economic welfar
poorest created a dependency c
Key Thinkers - Redistribution of wealth underm
individual rights
Hobbes (an influence of - Private property reduces individu
traditional conservatism) dependency on the state
- A state needs to ensure
order and security, for
economic activity
