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 ?
A year later Viereck published Conservatism Revisited, which gave the "New Conservatism" its name.
Andrews doctoral dissertation--which became the basis for The Conservative Mind--but he came to see them as variations on a deeper theme of Anglo-American civilization, whose conservatism was rooted in the life and thought of Edmund Burke.
However, this sort of conservatism does not come cheap.
Yet another and decidedly different mode of conservatism opens up at this point.
Yet his learned and fair-minded reconstruction lends support to the view that the proper way forward for conservatives is neither greater purity nor a more perfect unity, but a richer appreciation of the paradoxes of modern conservatism and a more assiduous cultivation of the moderation that is necessary to hold conservatism's diverse elements, frequently both complementary and conflicting, in proper balance.
According to Allitt, conservatism is, first, "an attitude to social and political change that looks for support to the ideas, beliefs, and habits of the past and puts more faith in the lessons of history than in the abstractions of political philosophy." Second, it involves "a suspicion of democracy and equality." This can be divided into a concern that the formal equality of men before God and law not be confused with equality in all things, particularly virtue, and that too much government power not be placed directly in the people's hands.
In its insistence on interpreting conservatism as political culture, Pipes's essay departs from a tradition of studying conservatism and other political ideologies in imperial Russia as intellectual formations, and especially recent trends in this field.
Pipes distances Russian conservatism from its West European counterparts and from the historiography of Western conservatism, which considers conservatism a conscious and coherent intellectual movement, a "style of thought" that evolved in reaction to the appearance of new "progressive" ways of imagining the political past, present, and future of a nation.
Nor is there a way to reconcile Gottfried's German historicism with the American republic--try as he might to read the Declaration's "Laws of Nature and of Nature's God" out of America's founding--or with the principles and way of life any genuine American conservatism must be charged with conserving.
Conservatism in America: Making Sense of the American Right, by Paul Edward Gottfried.
Thus, the free flow of labor and goods plays an outsized role in Flake's account of the essence of conservatism, standing in for a more broadly libertarian agenda.
Both pragmatism and conservatism represent alternatives to typical Enlightenment rationalism, as well as to some classical thought.