Conservatism and the Economy FTB

Practice flashcards covering conservative views on the economy, including agreements on capitalism and property rights, and disagreements between One-Nation and New Right perspectives.

Conservatives advocate for capitalism primarily because they see it as the most __________ economic system.

practical and efficient

In ‘On Being Conservative’, Oakeshott wrote that to be conservative is to prefer the familiar to the unknown and the __________ to the possible.

actual

Burke’s emphasis on tradition was driven by __________, with tradition representing the accumulated wisdom of past societies.

empiricism

In the post-WWII period, one-nation conservative Prime Minister MacMillan built __________ new homes per year.

$$300,000$$

The landmark housing policy introduced by Margaret Thatcher that allowed council house tenants to purchase their homes was the __________ scheme.

Right to Buy

One-nation conservatism’s belief in paternalism is rooted in a sense of moral duty articulated as __________.

noblesse oblige

Disraeli's government passed the __________ of 1875 to improve sanitary conditions in towns and cities.

Public Health Act

Disraeli famously stated that "The palace is not safe when the __________ is not happy."

cottage

The New Right advocated for __________ capitalism, characterized by limited taxation, low public spending, and little regulation.

laissez-faire

Nozick wrote that "The __________ state is the most extensive state that can be justified."

minimal

Nozick described the __________ as being "on part with forced labor".

taxation of earnings

Ayn Rand stated in ‘The Virtue of Selfishness’ that the difference between a welfare state and a __________ is a matter of time.

totalitarian state

Thatcher significantly reduced the top rate of income tax from $83\%$ to __________.

$$40\%$$

The New Right holds an __________ view of society, seeing it simply as a collection of individuals.

atomistic

Ayn Rand viewed personal __________ as a moral obligation that diminishes individual freedom and creates dependence.

altruism

Traditional and one-nation conservatives view __________ as a cornerstone of a stable society that encourages responsibility.

Property ownership

Traditional conservatism's support for capitalism and property was rooted in __________ and pragmatism, rather than ideological dogmatism.

tradition