The economy 10 marker
- Created by: Rachellowe
- Created on: 04-04-18 15:13
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- The economy 10 marker
- Economic liberalism
- Smith, Hayek, Friedman and Nozick challenge the idea of a planned economy.
- Anti-statist. The state is regarded as a real of coercion and unfreedom
- Free market economics gained renewed credibility in 1970s while governments had difficulty creating economic stability and sustained growth.
- social welfare had created a culture of dependency.
- social welfare can be a violation of property rights.
- Governments should foster growth by providing conditions that encourage producers to produce: main block is high taxes
- Mixed economy
- The liberal new right are opposed to a mixed economy and public ownership.
- Conservative new right still believe that state should have some intervention
- Private property
- Those who posses their own property are more likely to have respect for others property.
- Helps maintain law and order
- Socialised property threatens to create a soulless and depersonalised society.
- They oppose the socialist ideal of common ownership.
- Thatchers Right to Buy scheme
- owning property would give people a stake in society and promote a sense of responsibility.
- Conservatives originally feared the rise of the property owning middle class as they believed they would sweep away tradition with their wealth.
- Economic liberalism
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