To what extent are conservatives united in their views about the economy

Introduction

Paragraph Focus

• Paragraph 1 = Economic Approaches

• Paragraph 2 = Capitalism

• Paragraph 3 = Paternalism

Para 1 = Disagreement - New Right

• New right believe in Laissez-faire economics

• thinkers such as Rand believed that free marks, driven by competition and individual initiative, create the best conditions for human flourishing

• this is because we are rational beings who can control our own economics.

• As beings are atomistic, if the state intervenes with our economics, they limit our individual freedom

Para 1 = Disagreement - One Nation

• one nation conservatives disagree and argue for Keynesian economics

• thinkers such as Oakeshott believe that the free markets are too volatile and may require intervention from the state to ensure stability

• this is because humans are morally imperfect and only look out for themselves

• therefore, Keynesian economics would prevent the markets from becoming too disordered and protect the welfare of the poor

Para 2 - Agreement - Traditional

• traditional conservatives argue for a capitalist economy as they see the market as a natural and organic part of society

• thinkers such as Burke believed that disrupting the capitalist system is impractical and strongly support learning from tradition driven by empiricism

• therefore, by sticking to traditional institutions such as established property right and free markets, this provides a stability and security for the economy

• this allows individuals to truly thrive

Para 2 - Agreement - One Nation

• one nation conservatives agree and argue for a capitalist economy

• thinkers such as Oakeshott viewed the markets as a set of practices that had developed over time

• this means we should maintain capitalism as it is a useful and pragmatic tradition that has to be managed pragmatically

• this will ensure stability within the economy and that decision making is practical

Para 3 - Disagreement - Traditional

• traditional conservatives argue that the state should be paternalistic

• thinkers such as Hobbes believe that state should retain all power in order to maintain social stability and prevent conflict between different social groups

• they argue that without a guiding authority, society would become ‘nasty, brutish and short’

• therefore, the state must fulfil its noblesse oblige, and be a paternalistic figure

Para 3 - Disagreement - New Right

• new right conservatives disagree and argue that paternalism is bad

• thinkers such as Rand have a positive view of human nature and believe that humans are rational

• this means that individuals are the best arbiters and the state should allow people to do what they want with their lives

• therefore, paternalism would only undermine individual responsibility and self-reliance by encouraging dependency on the state