Economy - One Nation conservatism

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8 Terms

1
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Disraeli - impact of capitalism on society

  • Creates society of individuals but at the expense of social responsibility

    • Loss of sense of community due to people persuing selfish ends

2
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Disraeli - 2 nations caused by capitalism

  • Free-market capitalism is a recipe for revolution as it creates class conflict - concerning effect on organic society, authority and hierarchy

  1. Prosperous few

  2. Many poor

  • Therefore, govt should care for the interests of all classes to unite them

3
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Disraeli and Bismark - One Nationist policies

  • Welfare for poor to prevent excessive inequality and conflict

    • State-sponsered social reform as they don’t like laissez-faire individualism

  • Aim to temper effects of laissez-faire capitalism by restricting the freedom of factory owners and landlords

    • 1874 - Factory Act

    • 1875 - Artisan Dwellings Act

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Post-war One Nationist new conservatism

  • Rejection of nationalisation

  • Extremely low taxes

  • Free enterprises

  • Property owning democracy

  • State provision of economic infrastructure

5
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Issues with One-Nation economic policy + examples

  • Depends on steady economic growth

  • 1970’s recession

    • Heath comes to power, blames it on state intervention and taxation instead of the use of mixed economy and keynsian economics

    • ‘Supply side’ → tried to make the free market work better but had to u-turn and return to nationalisation and other consensus policies

6
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Pragmatism with an application to the economy

  • Balance between

    • Laissez-faire liberalism (rights of the individual)

    • Socialist state planning (collective rights)

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Disraeli - views on the economy

  • Interventionism> free-market capitalism

    • Interventionism is pragmatic and prevents a socialist revolution

    • Free-market capitlism creates social division due to exploitation

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MacMillan - views on the economy

  • ‘Middle way’ - a mixed economy of sorts

    • State ownership/regulation of certain aspects with the drive and initiative of private enterprise