Conservatism is an aesthetic, cultural, social, and political philosophy, which seeks to promote and to preserve traditional social institutions. The central tenets of conservatism may vary in relation to the traditional values or practices of the culture and civilization in which it appears.
In accounting, the convention of conservatism, also known as the doctrine of prudence, is a policy of anticipating possible future losses but not future gains. This policy tends to understate rather than overstate net assets and net income, and therefore lead companies to "play safe".
Após a II Guerra Mundial, os conservadores adoptaram largamente a linha chamada de "One Nation Conservatism", aceitando uma versão moderada do Estado Social e algumas das nacionalizações realizadas pelos Trabalhistas.