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 ?
The Guatemalan church turned from ultraconservatism in 1976, when it ended its silence on official abuse with the publication of the pastoral letter Unidos en la esperanza (United in Hope).
For the chattering classes, the Lott-Gingrich tandem running Congress was seen as completing the triumph of southern ultraconservatism.
In the months ahead, every person who values our fundamental liberties will need to get personally involved in the struggle to hold back the tidal wave of militant sectarian ultraconservatism.
As a society we seem to vacillate between the so-called liberal stance of "I'm okay, you're okay" to the ultraconservatism of "Nobody's okay except people like me.
The authors trace the first big futures project undertaken by a city to Dallas in the 1960s, which, after the shock of the Kennedy assassination, "found itself under attack for its ultraconservatism, its business-dominated power structure, and its resistance to civil rights.