Conservatism Flashcards
What is monetarianism?
System where the government reduces inflation by controlling money supply through cutting public spending. (supply side economics)
What was one nation conservatism a reponse to?
Laissez-faire capitalism & industrialisation
What is ‘stagflation’?
Mix of inflation, high unemployment, and low demand.
What was the neo liberal response in the mid 1970s to the western governments’ use of interventionist policies?
- Thought Keynesianism/welfarism were unable to combat ‘stagflation’
- The free market was the only way to meet consumer demand efficiently, maximise use of resources, and achieve prosperity.
What is the neo-liberal view towards inflation?
Inflation is ’greatest evil’ in market economy as it discourages economic activity/ investment.
What type of individualism do neo liberals highlight?
Atomic individualism
What is atomic individualism?
Individuals are rational, self-interested & self-sufficient.
How can individual freedom be achieved?
By rolling back the state and opposing collectivism. Humans, being rational, are then entitled to pursue their own interests.
Why do traditional conservatives believe that an organic society must be organised into a hierarchy?
- People do not have same abilities, talents, or energy.
- It is a functional necessity as different people must do different jobs & are rewarded differently depending on contributions.
Why should governments embrace welfarism/pragmatism?
- Capitalism encouraged self-interested individualism that undermined the idea of social responsibility, which widens gap between the rich & poor, causing class conflict.
- Organic society depends on paternalism; should embrace social reform or ‘welfarism’ to strengthen unity between traditional ruling class & workers, which offsets the negative effects of capitalism.
- This maintains traditional institutions.
- May: ‘Shared society.’
What are the core ideas of conservatism?
- Pragmatism
- Paternalism
- Organic Society
- Tradition
- Libertarianism
- Human imperfection
Who are the key thinkers for conservatism?
- Thomas Hobbes
- Edmund Burke
- Michael Oakeshott
- Ayn Rand
- Robert Nozick
What key points does Thomas Hobbes make?
- Obedience & absolute government.
- Government established by consent who authorise those in power to preserve order/peace. People jointly submit to an autocratic state (terms ‘leviathan’).
- Created a hypothetical situation called the ’state of nature’ where people were equal & free without obedience to higher authority. Would lead to the ‘natural conditions of mankind; a ‘restless desire’ for power creating conflict & war. Life would become ‘poor, nasty, & short’. People sacrifice rights/freedoms for order & security through a social contract.
- Humans are needy, vulnerable & easily led astray in attempts to understand world. Tend to be distorted by self-interest & the concerns of the moment.
Who talks about the ‘state of nature’ and the ‘natural conditions of mankind’?
Hobbes
What conservative thinkers are traditional conservatives?
- Thomas Hobbes
- Edmund Burke