New Right Conservatism

Political Studies: Edexcel A Level, topic 5.2.3

New Right conservatism had two different parts, which often conflicted - economic liberalism and social conservatism.

Neoliberalism is associated with a free-market economy and less government intervention in the economy.
In the 1980s, Thatcher deregulated the stock market (known as the ‘big bang’) and privatised the industries that were nationalised after the Second World War.
Privatisation is when publicly owned companies and goods are sold, so private individuals and companies own and control them.
Thatcher privatised coal and steel companies.
Privatisation is supposed to make companies more efficient and competitive.

Neoliberalism believes that individuals are rational and self-interested, which is termed atomistic individualism.
Neoliberals believe that freedom can only be preserved through less government intervention.
For neoliberals, the free market is a guarantee of individual freedom.
The welfare state limits freedom and undermines atomistic individualism because people become dependent on state welfare.

New Right conservatism became important in the 1970s and 1980s in the UK.
Margaret Thatcher and Ronald Reagan (US President between 1981 and 1989) are examples of New Right conservatives.

Neoconservatives are social conservatives who believe that changes in society have led to a break down of hierarchy and law and order in society.
They disagree with permissiveness and changes in public morality, such as social changes like acceptance of homosexuality, divorce and abortion.
Neoconservatives wish for a return to law and order and are tough on crime - for example by giving police greater powers of stop and search.

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