What is Conservatism?

Question

What is Conservatism?

Answer

Conservatism is a complex and multifaceted concept that varies across different contexts, including political philosophy, ideology, and even accounting. It generally emphasizes the preservation of traditional values and institutions, skepticism towards rapid change, and a preference for gradual development.

Political Conservatism

Definition and Characteristics: Conservatism in political philosophy is often defined by its resistance to rapid change and its emphasis on tradition and stability. It is characterized by a preference for existing social orders and skepticism towards radical reforms [1] [2] [3].
Historical Context: The roots of political conservatism are often traced back to opposition to the French Revolution, with Edmund Burke frequently cited as a foundational figure. However, the notion of a unified conservative philosophy is debated, with some arguing it is a constructed tradition rather than a coherent doctrine [4] [5].
Ideological Variations: Conservatism can manifest in various forms, including social, fiscal, and cultural conservatism, each focusing on different aspects of society and governance [2] [6].

Ontological Conservatism

Concept: Ontological conservatism, distinct from political conservatism, deals with the existence of ordinary objects and rejects the existence of extraordinary or composite objects. It emphasizes a straightforward view of reality, accepting common objects like trees and dogs but not unusual combinations like “trogs” (a hypothetical object composed of a tree trunk and a dog) [7].

Conservatism in Accounting

Principle: In accounting, conservatism is the principle of recognising potential losses but not potential gains until they are realised. This approach has persisted due to its utility in contracting, litigation, and regulation, despite criticisms [8].

Conclusion

Conservatism is a diverse and context-dependent concept. In political terms, it emphasizes tradition and gradual change, while in ontology, it focuses on the existence of ordinary objects. In accounting, it is a principle of cautious financial reporting. Each context highlights different aspects of conservatism, reflecting its broad applicability and enduring relevance.

References

1. Kekes, J. What is Conservatism?. Philosophy. 1997; 72. https://doi.org/10.1017/S0031819100057053
2. Huntington, S. Conservatism as an Ideology. American Political Science Review. 1957; 51. https://doi.org/10.2307/1952202
3. Wilson, F. A Theory of Conservatism. American Political Science Review. 1941; 35. https://doi.org/10.2307/1947852
4. What is Conservatism ?. . 2009
5. Bourke, R. What is conservatism? History, ideology and party. European Journal of Political Theory. 2018; 17. https://doi.org/10.1177/1474885118782384
6. Schrag, F. A case for conservatism?. Journal of Curriculum Studies. 2001; 33. https://doi.org/10.1080/00220270010014092
7. deRosset, L. What Is Conservatism?. Analysis. 2020 https://doi.org/10.1093/analys/anz055
8. Watts, R. Conservatism in Accounting. Auditing. 2002 https://doi.org/10.2139/ssrn.371820