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.
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conservatism

or

prudence

see ACCOUNTING CONCEPTS.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
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).
historians have focused on the rise of religious revivalism in the late 1820s, with its progressive as well as its deeply conservative implications, in Western Europe "ultraconservatism began to thaw" (p.
Both had the necessary credentials--national renown and ultraconservatism. Furthermore, Wallace's advisors chose LeMay because Wallace, a World War II veteran, revered the military in general and officers in particular.
ultraconservatism in editing, warns against its dangers in the context
The author convincingly defends Zizka from the charge of religious primitivism, while he goes along with the conventional view of Pribram's theological ultraconservatism. He deals primarily with the mental world of the radicals, but much of his analysis is applicable also to the moderate mainstream.