A political and social philosophy promoting traditional institutions and practices.
Conservatism often emphasizes the importance of maintaining established customs and values.
The disposition to preserve or restore what is established and traditional and to limit change.
His conservatism was evident in his reluctance to adopt new technologies in the workplace.
A political ideology that advocates for limited government intervention in the economy and a cautious approach to change.
Economic conservatism supports free market policies and reduced government spending.
In accounting, the principle of recognizing potential expenses and liabilities immediately, while deferring the recognition of revenues until they are reasonably assured.
Because of accounting conservatism, the company recorded the possible legal settlement as a loss before the case was decided.