Final answer:
In comparison to liberalism, conservatism generally favors limited government intervention in the economy and less regulatory oversight. While recognizing the importance of societal stability and property rights, conservatives advocate for gradual changes and uphold traditional values over rapid governmental reforms.
Step-by-step explanation:
Conservatism and liberalism represent fundamentally different viewpoints on the role and scope of government, individual rights, and social policies. Conservatives tend to support limited government intervention in the economy, advocating for free markets to determine prices, wages, and supply. They emphasize the preservation of traditional institutions and oppose any rapid system reform that may challenge the stability of society or property rights. On the other hand, while classical liberalism champions individual liberties and limited government, modern liberalism takes a different approach, suggesting that government intervention is necessary to promote social equality and provide essential social services.
Conservatives generally do not support progressive taxation or strong government regulation as they believe these may infringe on property rights and personal freedoms. They are in favor of gradual reform rather than revolutionary changes and hold that the community's good may sometimes outweigh individual rights, especially when it pertains to protecting established, fundamental values of society.