ECONOMY Flashcards
1
Q
view on capitalism
A
- reluctant supporters
- any assault of capitalism is an assault on property hierarchy status quo
- BUT trad cons sceptical of leaving market alone, laissez faire requires optimism
2
Q
effects
A
- widen economic inequality
- defends hierarchy
3
Q
protectionism
A
- supported by trad cons
- consistent with emphasis on patriotism and national identity
4
Q
hobbes view
A
- enduring economic activity impossible without a state guaranteeing order and security
5
Q
burke view
A
- trade should involve organic free markets and laissez faire capitalism
6
Q
oakeshott view
A
- free markets volatile and unpredictable
- requires pragmatic state moderation
7
Q
rand view
A
- free market is an expression of individualism
- should not be hindered by state
8
Q
tensions between strands
A
TRAD CON - sceptical about free market as can exacerbate inequality and fuel support for socialism, also eroded national identity and culture. SO prepared for state intervention
NEW RIGHT - advocate free market where state functions are privatised and regulated, tax and state spending heavily reduced
