neo-liberalism

Question 1

What is neo-liberalism?

Answer 1

revival of economic liberalism taking places in the 70s. It is counter revolutionary and aims to reverse big government and state intervention

Question 2

Who were the main proponents of neo-liberalism?

Answer 2

Thatcher and Reagan- sought to fuse laisse faire economics to socially conservative philosophy

Question 3

What did Hayek favour?

Answer 3

favoured radical change, not conservative stability- choice id based upon the boundless faith of human nature

Question 4

What did Hayek argue neo-liberals wanted that proves its not conservatism?
an example?

Answer 4

constitutional reform checking exec power.
Cameron’s government promotion of marriage via the tax system was attacked as state intrusion on private lives.
However, neo-liberals would approve this promotion of social liberalism via granting of equal status to gay couples

Question 5

What makes neo-liberalism a distinctive branch of liberalism?

Answer 5

seeks to update the principles of classical liberalism
offers liberal critique of modern liberalism, accusing of the betrayal of individualism and a “sell-out” to both socialism and conservatism

Question 6

What are the implications of neo-liberalism on the economy?

Answer 6

reduction in public spending, facilitated by privatization and less state regulation
lower rates of taxation
gradual replacement of dependency culture