To what extent do Conservatives share a common view of the economy?

Question 1

para 1 - agree

Answer 1

There is an agreement that the state should take a minimal role in their involvement with the state. Traditional Conservatives Hobbes and Burke both agree that the state should take a minimal role in the economy, with their being low government intervention. This is shared by modern thinkers like Nozick and Rand, who agree that the state should be hands off in a laissez faire approach.

Question 2

para 1 - disagree

Answer 2

There is a disagreement over how uninvolved the state should be. Hobbes and burke are pro private ownership but due to their pessimistic view of human nature, they acknowledge the need for state intervention. Oakeshott additionally agrees on the need for government intervention, although he argued that this would be necessary to curb volatility and ‘keep the ship afloat’. Rand and Nozick on the other hand see that the state should not involve itself in the economy, as this is not desirable. This division can be seen in the neo-liberal, new right views of Thatcher vs the one nation views of David Cameron, with the prior supporting a lack of any government intervention, whilst Cameron led during a period of austerity.

Question 3

para 2 - agree

Answer 3

There is a broad agreement over the fact that a total controlled economy is undesirable, and that therefore capitalism is the way in which society can flourish. Given their dislike for utopian ideals such as those shared within the socialist ideology, this is where their support for capitalism comes from. This view is shared by nearly all thinkers, Hobbes, Burke, Oakeshott, Nozick and Rand.

Question 4

para 2 - disagree

Answer 4

The extent of free market capitalism is disputed. Hobbes and Burke argued that free market capitalism exacerbates inequality leading to growth in support for socialism, as argued by socialist thinkers like Marx who see capitalism as the root of all evil. Therefore, Hobbes and Burke would pragmatically argue that a slightly controlled economy is necessary in order to avoid socialism. Rand and Nozick on the other hand argue that free market capitalism is the only option, and that this would lead to the greatest level of prosperity

Question 5

para 3 - agree

Answer 5

Conservatives agree that private ownership is a necessity, as they once again are against total government intervention, meaning they are against total state ownership. Hobbes and Burke are both in favour a private ownership, which they share with Rand, Nozick and Oakeshott, with the more modern conservatives arguing that private business will to greater prosperity for all and greater progression

Question 6

para 3 - disagree

Answer 6

The more traditional conservatives take an incredibly pessimistic viewpoint of humans and their capabilities, and so therefore are likely to argue that all humans are able to be economically self sufficient. This is where they instead argue that a ruling class should be the ones who are economically self sufficient, and support the lower incapable classes. The more modern conservatives however (Rand and Nozick) argue in favour of private ownership, arguing that ‘tax, for the most part is theft’ (Nozick), and that the tax should be totally privatised due to it being the most efficient way of achieving prosperity.