The New Right

• where is the difference in the New Right and libertarianism seen?


  the hostilty towards socially progressive liberal policies such as redistributive taxation, wlfare and affirmative action
• who are the two main New Right politicians?

  Ronald Reagan and Margret Thatcher
• who is the 'grandfather' of the New Right?

  Friedrich Hayek
• What does liberty mean to Hayek?


  the economies should be free
• Who was very influenced by Hayek ideas?


  Reagan and Thatcher
• what did Hayek identify as the cause of economic downturns?

  issues of supply
• Whose ideas did Hayek criticise?


  Keynes
• What book is Hayek most famous for writing?


  The Road to Surfdom
• For Hayek, was the danger of the state planned economies?


  depends on a single individual - dictatorship
• why did he believe that managed economies would not work?


  not one individual could make rational decisions as they would lack information
• Why is the market the most accurate way of determining the value of things


  Supply and demand which represents a form of collective agreement on the value of something
• what university is most closely associated with the New Right during the 70s and 80s

  university of Chicago
• Who famously said that Hayek's book The Constitution of Liberty was 'What we believe'


  Margret Thatcher
• what three points did Hayek reject?


  1- human beings and society can be improved by governments

  2- governments can predict and manage increasingly complex economic markets

  3- that there were such abstract things as social injustice
• what was Friedman's famous book?


  Capitalism and Freedom
• what did Friedman call for?


  governments to ease their tax burdens on citizens and businesses
• what is Friedman the most well known founder of?


  monetarism
• Core ideas of the new right


  1- reapply the ideas of the free market and the night watchmen state

  2- private property and negative freedom are essential to political freedom

  3- state in the 20th century has grown and now threatens the freedoms of the individual

  4- welfare spending and high taxation have actively brought about comic decline while creating a dependency culture

  5- free trade, free markets and globalisation are the best determinants of economic and social progress
• what was Rawl's answer to the problems of the values of pluralism?


  a well ordered society where people have a common belief in the proper way in which disagreements can be debated and a consensus is reached
• what distinct positions does left libertarianism have?


  - support for self ownership

  - opposition to private ownership of natural resources