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Liberalism

The New Right and libertarian views of the market

  • 3 things to know
  • A2 Unit 3

Overview

Two strands that make up the New Right, nozick's entitlement theory of justice and one criticism of the New Right's combination of ideas.

What you need to know

Answer each one before you reveal it.

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Key term

What does the term New Right refer to?

Key term

Name the two strands that make up the New Right.

Key term

Which 1944 book by Friedrich Hayek warned that economic planning threatens liberty?

Questions from this subtopic

Each one with the model answer underneath.

  1. 1

    What does the term New Right refer to?

    Model answer

    A political outlook combining free-market economics with traditional social conservatism, influential in Britain and the United States from the late 1970s.

  2. 2

    Name the two strands that make up the New Right.

    Model answer

    Neo-liberalism, which is economic, and neo-conservatism, which is social and moral.

  3. 3

    Why is neo-liberalism described as a revival of classical liberalism?

    Model answer

    It returns to free markets, low taxation, deregulation and a minimal state after decades of managed capitalism and welfare expansion.

  4. 4

    Which 1944 book by Friedrich Hayek warned that economic planning threatens liberty?

    Model answer

    The Road to Serfdom.

  5. 5

    Summarise Hayek's central argument in that book.

    Model answer

    Central planning requires ever greater coercion because planners must override individual choices, so it tends towards tyranny even when well intentioned.

  6. 6

    What did Hayek mean by spontaneous order?

    Model answer

    Complex and workable social arrangements arise from countless individual decisions without anyone designing them, as language and markets do.

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AAccess is bought rather than earned.
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