conservatism


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Conservatism

The philosophy that what has been done should continue to be done as long as there is not a positive reason to change it. Conservatives may favor class distinctions as natural, or at least not harmful. In modern times, conservatism has become associated with the political right, or the belief that capitalism and the free market tend to best determine how an economy ought to be organized.

conservatism

or

prudence

see ACCOUNTING CONCEPTS.
References in periodicals archive ?
One might think from this example that the FDA has had to capitulate to conservatism.
Conservatism roots in the crucial fact that one cannot just abandon the status quo but has to replace it with something detailed and specific.
It can be said that studies have been done on the relation between conservatism and accrual earnings management.
Ambitious in scope, Conservatism in Canada offers an in-depth discussion of both domestic economic and cultural questions, as well as foreign policy.
There's a place for partisan politics, but the era of cable news is drawing to an end, and as a new media environment develops in the 21st century, classical conservatism has an opportunity to reassert itself--online and in the pages of small magazines, for starters--and draw attention back to the battles that must be fought above and below the national level.
What links these thinkers, as McClanahan and Wilson make clear at the outset, is their agreement with conservatism as it was defined and described in Russell Kirk's The Conservative Mind.
Would that politician be simply advocating economic conservatism where market forces reign supreme and a survival-of-the-fittest attitude prevails?
We find that after controlling for previously documented legal and financial institutional variables, both conditional and unconditional accounting conservatism are greater in countries with more conservative societal and accounting values.
Obviously this is different from what passes as modern day Conservatism, for example "There is no such thing as society", Mrs Thatcher's infamous quote, which is burned across the hearts of the neo Conservatives who now run the party.
Even Mitt Romney, who subscribes to a faith that knows a lot about social capital, relies exclusively on the language of market conservatism.
One of the main reasons for the attenuation of social conservatism in Canada has been the downplaying of that outlook within the Progressive Conservative federal and provincial parties--who mostly, after the 1960s,--had become so-called "Red Tories.
In the "Conclusion" to the fiftieth anniversary issue of Modern Age, "The Decline of American Intellectual Conservatism," Claes Ryn offers a view of conservatism that, in a sense, is inclusive of liberalism and individualism and also a criticism of conservatism's distortion and hijacking by powerful figures in think tanks, foundations, and the media.