Political Science · Political Theory
UGC NET November 2021 Political Science
Which of the following are the schools of 'New Right' Ideology?
- I. Austrian school
- II. Chicago school
- III. Frankfurt school
- IV. New York school
AI and II ✓ Correct
BI and IV
CI and IV
DII and III
Correct answer: (A) I and II — The schools that belong to New Right ideology are the Austrian school and the Chicago school, that is I and II.
Explanation
★The schools that belong to New Right ideology are the Austrian school and the Chicago school, that is I and II.
★The New Right combines a free market economics of deregulation, privatization, lower taxes and a reduced welfare state.
★The Austrian school, associated with Hayek, stresses individual choice and the role of market signals.
★The Chicago school, associated with Friedman, champions monetarism and minimal government interference in markets.
★The Frankfurt school is a tradition of critical theory on the left, and there is no recognised New York school here, so neither belongs.
★So I and II, the Austrian and Chicago schools, is the correct combination.
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