All specifications require you to consider the extent to which conservatives differ in their interpretations of the relationship between the state and the economy.
By the 1970s, economic state management based on the ideas of John Maynard Keynes was beginning to fail in both the USA and the UK. A mixture of high inflation, low economic growth (known as ‘stagflation’) and high unemployment plagued Europe and America. For traditional conservative thinkers this was not surprising. Burke had advocated free trade and laissezfaire government as the natural condition for the economy, and Oakeshott was openly sceptical as to whether politicians and economists had the intellectual capacity to successfully manage a mixed economy.
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