capitalism and property Flashcards
capitalism and property rights are strongly support by cons rooted in the principles of
pragmatism , respect for tradition and the concept of an organic society
cons advocated for capitalism primarily because they see it as the most practical and efficient economic system it aligns with their
pragmatic approach as it has historically generated wealth and improved living standards
cons are also very wary of idealistic visions of changing the economy and society using state intervention , Oakeshott in particular saw the danger of this in
the 20th century , strongly criticising idealism and the death it created both the far left and the far right
furthermore cons support for hierarchy means that cons are generally very comfortable with the
inequality capitalism produces
conservatism values tradition in an organic society , capitalism is seen as integral part of the economic tradition in many societies , not just as a set of economic mechanisms but
as part of the cultural and historical fabric that has evolved organically over time
cons argue that disrupting this system would not only be impractical but also
disrespectful tot he legacy and wisdom, of past generations
the idea of the free market in which individuals naturally trade with teacher other is consistent with an
organic society rather than a designed society
this support for property rights is equally paramount in conservative though , property is seen a cornerstone of a stable society , ownership encourages
responsibility and discourages support for socilaist ideology that upturn the social order
the right to property is also intertwined with the cons emphasis on an organic society where the individual ownership forms part of the
societal fabric , contributing to the overall health and stability of the community
traditional cons were strong supporters off capitalism and property which were seen as
being the most pragmatic and tested economic system based on the accumulated wisdom of tradition and experience
both capitalism and property were also seen as important to maintaining hierarchy and social order for traditional cons although
they were comfortable with the inequalities it created
traditional cons didnt support paternalistic economic policies to the same extent as one nation cons , but also weren’t libertarians who were
ideologically opposed to state intervention in the economy like the new right
Burke a key traditional con was wary of the potential and unregulated economic liberalism and the unvetted pursuit of individual wealth if it
led to social injustice or undermined communal bonds
traditional cons were also worried about the possibility of completely free markets undermining order and stability in society which led them to
supporting some state intervention were necessary
- this included protectionism to protect national industries from foreign competition
it is important to recognise however that traditional cons was first articulated prior to full scale development industralsiaiton and thus the
economic inequalities and social issues that came with it
it seems reasonable to suggest that traditional cons beliefs in changing to conserve and pragmatism may had led to them supporting similar polices to
one nation cons given this changed context
one nation cons strongly support capitalism due to the
pragmatic approach and respect for tradition it shares with traditional cons
due to one nation cons greater emphasis on paternalism and the need to change to conserve in the context of industrialisation , they supported more
state intervention to ensure the welfare of all members of society
one nations cons recognised that in the face of societal changes and increasing inequality brought about by industrialisation that some degree of
state intervention and reform was necessary to prevent social unrest and maintain national cohesion
with support for socialism growing this change was necessary for one nations cons to conserve the hierarchal ,
stable nature of society and prevent a socialist revolution that would threaten it
one nation cons were also influenced by their paternalism which led to the belief that the state should take proactive steps to improve the
welfare of the less privileged members of society , through policies designed to alleviate poverty and provide social welfare
in the 19th century one nation con Disraeli gov enacted a number of social refroms aimed at improving
living conditions for the working class int he context of social and economic disparities that industrialisation created
one nation con Disraeli introduced the public health act of 1875 and the artisans and labourers dwellings improvement act of 1875 improved
public health and sanitary conditions in towns and cities
one nation con Disraeli introduced the factory act of 1874 reducing the working day for women and children and implemented
stricter safety regulations in factories
