Economy - One Nation conservatism

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

• Causes social division

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

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

Actions taken by Disraeli’s govt

• Extension of franchise to W/C men

• Intervention to limit exploitative nature of capitalism (but not to create greater equality)

• Improvement of:

  • Houses

  • Sanitation

  • Factories

• In order to “gain and retain for the Conservatives the lasting affection of the W/C”

Post-war One Nationist new conservatism

• Rejection of nationalisation

• Extremely low taxes

• Free enterprises

• Property owning democracy

• State provision of economic infrastructure

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

Pragmatism with an application to the economy

• Balance between

  • Laissez-faire liberalism (rights of the individual)

  • Socialist state planning (collective rights)

Disraeli - views on the economy

• Interventionism> free-market capitalism

  • Interventionism is pragmatic and prevents a socialist revolution

  • Free-market capitalism creates social division due to exploitation

MacMillan - views on the economy

• Embraced economic management and goal of full employment

  • Support for enlarged welfare provision

• ‘Middle way’ - a mixed economy of sorts

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

Resurgence of One Nation conservative ideas under Cameron

• Compassionate conservatism