The economy Flashcards
What areas do conservatives agree on about the economy?
- traditional conservative thinkers like Edmund Burke supported a laissez-faire economy. Burke believed that the free market was the natural organic state
All conservatives believe that private property is a vital component of the economy as it provides psychological security for individuals within society
Traditionally, one nation and new right believe that taxation should be used to fund state intervenions in society although this intervention varies dramatically
edmund burke - free markets would promote economic activity and wealth creation
What are the areas of disagreements in the economy?
most conservatives argue that private property strengthens social cohesion however one nation and traditional have an ambivalent attitude towards the economy and reluctant supporters of captalism
they are sceptical of a laissez-faire economy as their concern is that this economy leaves no room for the poor/ no paternalistic support
neo-liberalists believe in a laissez-faire economy i.e they favour abolishing expensive welfare states and the dependency culture they create
- neo liberalists are radical as they favour drastic political, economical change
What do key thinkers think
Nozic and Ann Rand diapprove of the ‘big state’ as they are against Keynesian economics as they believe in an atomistic society and a laissez-faire economy
