Neo-liberalism: Liberalism Or Conservatism? Flashcards
What was neo-liberalism recognized as by the end of the twentieth century?
Neo-liberalism was recognized as a widely recognized branch of political ideology, often used to describe political thinking in countries like the UK and the USA.
What confusion exists about neo-liberalism’s ideological roots?
There is confusion about whether neo-liberalism is an expression of liberal or conservative thinking.
Who is considered the most distinguished exponent of neo-liberalism?
Austrian philosopher Friedrich von Hayek (1899-1992).
How did Friedrich von Hayek view neo-liberalism in relation to liberal ideology?
He believed neo-liberalism represented the “third strand” of liberal ideology, distinct from conservatism.
What did Hayek argue in his work The Road to Serfdom (1944)?
He argued that he was “not a conservative” and that neo-liberals favored radical change based on their faith in human potential, rather than conservative stability.
How did Hayek’s view on conservatism differ from that of other liberals?
He opposed conservatism’s rigid defence of the constitutional status quo, particularly when it involved hereditary influence, and supported constitutional reforms that checked executive power.
How have recent neo-liberals, such as those at the Adam Smith Institute, positioned themselves in relation to conservatism?
They have opposed some social policies associated with conservatism, particularly state intrusion into private lives.
What specific policy of the Cameron government was criticized by neo-liberals?
The promotion of marriage via the tax system, which neo-liberals viewed as state intrusion into private lives.
How do neo-liberals view the state’s promotion of social liberalism?
They support it, as seen in their approval of granting equal status to gay couples.
What makes neo-liberalism a distinctive branch of liberalism?
It seeks to update the principles of classical liberalism within a twentieth- and twenty-first-century setting, aiming to reapply the ideas of Adam Smith and Thomas Jefferson to modern societies and globalized economies.
What does neo-liberalism offer as a critique of modern liberalism?
It accuses modern liberalism of betraying individualism and ‘selling out’ to both socialism and conservatism
What does neo-liberalism offer as a critique of modern liberalism?
It accuses modern liberalism of betraying individualism and ‘selling out’ to both socialism and conservatism
How did Friedrich von Hayek criticize the Beveridge Report?
He criticized it for fostering ‘state paternalism’ or ‘dependency culture’ and for legitimizing an endless extension of state restraint upon individual initiative.
What spurred neo-liberals to re-advertise the merits of negative freedom and a minimal state?
The crises of the 1970s, which questioned the efficiency of Keynesian economics and welfare spending.
What have neo-liberals specifically called for in terms of state involvement?
They have called for a reduction in public spending, facilitated by the privatization of public services, and much less state regulation of the economy.
