Private property has a vital place in providing security, in ensuring social harmony. It is a value which possesses a deep significance for conservatives. It gives a 'stake in society' and encourages respect for law and order. Property is also an essential element in the Conservative view of liberty, which is the right to do as one pleases as far as possible without interfering unjustifiably with the freedom of others. This is advocated by the New Right too as can be seen from the classic example of Tatcher selling houses to enhance equality of opportunity which in turn strengthens the social structure.
Conservatives believe in the authority of government to preserve order, to provide a framework of law, to prevent abuse of power, and to provide things, which must be provided collectively. The need for authority is a key feature for conservatives in particular neo-conservatism for whom it enhances a sense of discipline and communitarianism.
One nation in regards to Disraeli was concerned with social stability as he warned of the danger of Britain being divided into "two nations: the rich and the poor" - in contrast to the liberals of the time he believed strongly that wealth brought with it social obligations. Inequalities in wealth confer inequalities in responsibility. His government brought some reforms to help Britain's poor in order to again to protect the fragile fabric of society from divisions. Disraeli who suggested that wealth brought social obligations in particular to the less privileged represented the One Nation belief. He advocated that society was held together by the acceptance of our duty and obligations to each other and hence Inequalities of wealth gives rise to inequality of responsibilities. This is also known as “noblesse oblige” which can be referred to as the articrosy being noble and generous. Overall this meant that the welfare state was supported from a paternalist viewpoint since the redistribution of wealth sustained social stability. One nation strand advocates that for social stability to be preserved economic intervention should be endorsed.
However on the other hand it can be said that conservatism has been concerned with economic freedom as can be seen from the rise of the New Right strand in particular neo liberalism has allowed a greater concern for economic freedom than social stability.
In practise, Thatcher represented the Neo liberal strand and tried to revive the nineteenth century ideals of self help and individualism. Thatcher stated that there was no such thing as society only individuals who should look after their own family rather become dependant on the state. Here we can see that Thatcher would advocate that to sustain social stability everyone needs to be economically independent through free markets etc. The welfare state was implied to create a “nanny culture” as it resulted in a loss in a loss of dignity and self-respect.
The New Right has been much influenced by the theories of two economists, F.A.von Hayek and Milton Friedman. This strand, in terms of the economy, this required a rolling back of the frontiers of state intervention Thatcher spoke of the need to 'roll back the frontiers of the state', to force people to be more self-reliant, and to take more responsibility for their own actions. There was an emphasis on reducing the public provision of services and on putting greater responsibility on the individual and on the voluntary services. In order to cut public spending to a minimum so as to allow for maximum personal freedom and minimum state intervention the conservative government of 1979 onwards embarked on a drive to privatise as many industries as the possibly could, including such companies as British Gas and British Airways. This is a form of Economic Darwinism, I.e. survival of the fittest and because they believed that by working on a smaller profit margin firms would be encouraged to be me competitive.
This also allowed entrepreneurs to be given greater freedom to make their own decisions; state interference in the form both of controls and of subsidies should have been diminished as far as possible.
The libertarianism of neo liberal conservatism derives from its primary concern with the free market and laissez faire economics. This results in an increase of rugged individualism sometimes at the expense of the delicate fabric of society.
Furthermore it can be said that conservatism has been concerned with economic freedom as can seen from the 19th century ideals and liberal ideas advocated by Peel of individualism, economic liberty and minimal government came to influence the Conservative Party and to battle with older ideas of social paternalism and authoritarianism.
In conclusion whether Conservatism has been more concerned with social stability than with economic freedom is dependant on the strand that is being considered. The New right has certainly been more inclined towards economic freedom as can be seen from Thatcher implementation of the laissez faire and free market. In addition the New Right policies reflect liberal ideas of unrestrained capitalism, which enhance competition and class struggle. The minimal state will allow individuals to have more freedom. However the One Nation strand are more concerned with social stability since it advocates a large welfare state, strong state to provide discipline and authority.
