Economy

Question 1

What is meant by the economy?

Answer 1

The process or system by which goods and services are produced, sold and brought into a country or reigon.

Question 2

Whilst there is some disagreement concerning…

Answer 2

the level of state intervention, hierarchical structures and total free market economics.

Question 3

Main argument of the economics essay?

It is a stronger argument to suggest…

Answer 3

…Conservatives agree to a large extent over the economy.

Question 4

Two main points of the economics essay?

Answer 4

1. Supportive of capitalism+ property because of our need for security (a level of hierarchy maintained- minus neo-libs).
2. The idea of laissez fair economics.

Question 5

Two main counterpoints of the economics essay?

Answer 5

1. Concern over the negative effects of heirarchical structures+ importance of Paternalism.
2. Need state intervention- protectionism, keynisian economics + ensure to look at radical absolutely no intervention from the neo-libs.

Question 6

Which conservatives are supportive of capitalism + property because of out need for security and need for maintance of heirarchy?

Answer 6

Neo-liberals-argue property+ capitalism are a triumph or an atomistic society. (relate to the yuppies of the 1980s).
All- neo libs- property provides security psychologically for our flawed human nature +is a pillar in an organic society
ONC-property + capitalism maintains heirarchy

Question 7

Which conservatives support free market economics?

Answer 7

-Edmund Burke supporting the ideas of Adam Smith of LF economy. ‘a minimum policy of government intervention’
-New right- remove the state completely from economics- any interference restricts business owners freedom. (+ cuts in public spending).

Question 8

Which conservatives hold concern over the negative effects of capitalism and importance of paternalism?

Answer 8

ONC- dubbed relluctant supporters of capitalism- concerned with paternalism+ organic society.
neo-libs- more radical and favour radical changes- unlike Burke’s policies that were of maintinance.

clear difference

Question 9

Which conservatives argue a need for state intervention in the economy- protectionism, keynisian economics (or the other radical side of no involvement at all).

Answer 9

Burke- protectionism- domestic industries shielded from competition of foreign imports through tarrifs.
ONC’s keynisian economics- intervening for things like unemployment.

Burke didnt want Keynisan economics too.