Right-wing politics
In modern times, "right-wing" is sometimes used to describe "laissez-faire" capitalism. In Europe, capitalists formed alliances with the Right during their conflicts with workers after 1848. In France, the Right's support of capitalism can be traced to the late-nineteenth century. The so-called neoliberal Right, popularised by US President Ronald Reagan and UK Prime Minister Margaret Thatcher, combines support for free markets, privatisation and deregulation with traditional right-wing support for social conformity. Right-wing libertarianism (sometimes known as libertarian conservatism or conservative libertarianism) supports a decentralised economy based on economic freedom and holds property rights, free markets and free trade to be the most important kinds of freedom. Russell Kirk believed that freedom and property rights were interlinked. Anthony Gregory has written that right-wing libertarianism "can refer to any number of varying and at times mutually exclusive political orientations". Gregory holds that the issue is neither right or left, but "whether a person sees the state as a major hazard or just another institution to be reformed and directed toward a political goal".
Left-wing politics
The spectrum of left-wing politics ranges from center-left to far-left (or ultra-left). The term center-left describes a position within the political mainstream. The terms far-left and ultra-left refer to positions that are more radical. The center-left includes social democrats, social liberals, progressives and also some democratic socialists and greens (including some eco-socialists). Center-left supporters accept market allocation of resources in a mixed economy with a significant public sector and a thriving private sector. Center-left policies tend to favour limited state intervention in matters pertaining to the public interest.