Conservatism - Neo-liberalism 1.2

Question 1

summary in 4 points neo-liberalism

Answer 1

-minimal state
-self-reliant/rational individuals
-rejection of collectivism
-elimination of state intervention

Question 2

what do conservative economist Milton Friedman and Freidrich Hayek believe

Answer 2

‘the free market is the only mechanism which can fulfill supply and demand and achieve prosperity’

Question 3

what do neo-liberals believe state intervention does

Answer 3

creates these problems and makes them worse

Question 4

what are the three main evils for neo-liberals

Answer 4

-inflation
-government
-monopolies

Question 5

why are MONOPOLIES bad for neo-liberals

Answer 5

reduce economic competition

Question 6

what is INFLATION bad for neo-liberals

Answer 6

reduces economic activity and investment ( only time the government can help in economics)

Question 7

what is monetarism

Answer 7

inflation reduced by controlling spending through cutting public spending

Question 8

what economics do neo-liberals adopt then?

Answer 8

-keynesianism
-‘supply side’

Question 9

how can individual liberty and freedom be contained

Answer 9

opposing collectivism and rolling back of the state

Question 10

what do neo-liberals critise the most

Answer 10

the welfare estate (created a dependency culture)