Economy

Question 1

Introduction - Themes

Answer 1

• State Intervention
• Class Divisions
• Prgamatism

Question 2

Introduction - Argument

Answer 2

Conservatives are not consistent when it comes to their view of the economy as they fundamentally disagree on the economic model and the extent of freedom

Question 3

State Intervention - Agree - Point

Answer 3

All branches of conservatives agree that capitalism tends to nurture and widen economic inequalities and sharpens distinctions between rich and poor. Conservativsm defends inequality and heirarch, and all conservatives are pro-capitalist

Question 4

State Invervention - Disagree - Point

Answer 4

• Traditional and One Nation conservatives are often dubed the reluctant supporters of capitalism, and therfore, feels more state intervention is necessary
• New Right conservatives feel that there should be a completely free market and limited state intervention

Question 5

State Invervention - Disagree - Example
(One Nation)

Answer 5

Oakshott observed that conservative society is one that merely aims to ‘stay afloat’ in uncertain waters, rather than sail steadily towards a specific direction - this means they have adoptred Keynesian economics

Question 6

State Invervention - Disagree - Examples
(New Right)

Answer 6

The New Right are supportive of Adam Smith’s Laizze-Faire economics which promotes the use of free markets. Ayn Rand supports ‘rolling back the frontiers of the state’

Question 7

Class Divisions - Agree - Point

Answer 7

All conservatives defend inequality and heirarchy created by captialism - they do not see a problem with capitalism widening economic inequality, hence why they are supporters of low tax

Question 8

Class Divisions - Disagree - Point

Answer 8

• One Nation conservatives take a paternalistic view and believe those struggling should be helped
• New Right conservatives believe in individualism and meritocracy

Question 9

Class Division - Disagree - Example
(One Nation)

Answer 9

Benjamin Disraeli, widely viewed as the first One Nation Prime Minister, said that it was their duty to elevate the conditions of the people

Question 10

Class Divisions - Disagree - Example
(New Right)

Answer 10

Ayn Rand applied her theory of autonomism to the economy and argued those who are less well off as a result of capitalism must work harder in order to succeed

Question 11

Pragmatism - Agree - Point

Answer 11

Conservatism is a pragmatic ideology, especially when it comes to the economy. One Nation is more paternalistic to keep the working class happy, while the New Right was created to curb socialist ideas

Question 12

Prgamatism - Disagree - Point

Answer 12

• One Nation and Traditional conservatism are far less ideologically driven and place far more emphasis on pragmatism and taking each economic event as it happens
• New Right are far more racially and ideologically driven

Question 13

Pragmatism - Disagree - Example
(Traditional)

Answer 13

Burke’s organic society can be related to traditional conservatives view on the economy - he argued that economic changes must be cautious and organic. This aligns with Michael Oakshott’s nautical metaphor

Question 14

Pragmatism - Disagree - Example
(New Right)

Answer 14

New Right conservatives have far more planning for how the economy is going to develop. Liz Truss’s autumn mini budget was incredibly radical and proposed plans which were going to be seen through well into the future