libertarianism (specifically neo-liberalism) (Edexcel A-Level Politics): Flashcards
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Libertarianism definition
Libertarianism definition
Political philosophy emphasising individual freedom & minimal state
Neo-liberalism definition
Neo-liberalism definition
Free markets, deregulation, privatisation, minimal govt intervention
Individual autonomy in neo-liberalism
Individual autonomy in neo-liberalism
Right to make own choices free from state constraints
Free choice benefit according to neo-liberals
Free choice benefit according to neo-liberals
Essential for personal fulfilment & economic efficiency
State's role under neo-liberalism
State's role under neo-liberalism
Protect rights, enforce contracts, maintain law & order only
Free market economy features
Free market economy features
Supply & demand determine prices, production & distribution
Purpose of deregulation
Purpose of deregulation
Increase competition & efficiency
Why neo-liberals support privatisation
Why neo-liberals support privatisation
Better services by introducing market dynamics
Neo-liberal view on taxation
Neo-liberal view on taxation
Low taxes so individuals keep earnings & stimulate economy
Neo-liberal view on individual responsibility
Neo-liberal view on individual responsibility
Take responsibility for own economic & social well-being
Neo-liberal view of human nature
Neo-liberal view of human nature
Fundamentally rational & self-interested
Impact on welfare state
Impact on welfare state
Reduction as emphasis shifts to individual responsibility