Google
Thursday 
January 18, 2018 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
LOCATION THEORY: A theoretical framework for studying the location decisions made of firms and households based on transportation cost and spatial differences in the accessibility of inputs and markets for outputs. Location theory, developed with noted contributions from August Losch, Alfred Weber, Johann von Thunen, Walter Christaller, and Walter Isard, explicitly considers the cost of transportation in the production and consumption choices made by firms and households. Location theory has been used to explain urban density, labor migration, and land use.

Visit the GLOSS*arama


CONSERVATIVE:

A political view that favors--(1) limited government intervention in the economy, (2) extensive reliance on markets, (3) strong national defense, (4) protection and promotion of existing cultural ideals and beliefs, and (5) economic rewards predominately based on productive efforts.
Conservatives tend to come from the ranks of the second estate, which has extensive ownership of and control over resources, especially capital and the material resources of land. As such, they usually support policies and government leaders who protect their interests. Conservatives also tend to be strong advocates of free enterprise and find philosophical agreement with economics theories that call for limited government intervention in the economy.

The Political Influences of Financial Wealth

While assorted factors influence and determine political views--including religion, morality, a sense of what is right or wrong, and a philosophical notion of what is best for the country--economic forces tend to be among the more important. In particular, wealth, income, and the ownership and control over productive resources have a strong influence on political views. Those who possess more financial and economic wealth support policies designed to protect or conserve that wealth.

For example, Winston Smythe Kennsington III, who has sizable bank accounts and owns oodles of corporate stock, is politically conservative in large part because conservative policies tend to support, retain, and effectively conserve his financial wealth.

Other Forms of Wealth

Financial wealth, however is not the only type of wealth that influences political views. Members of society are often inclined to conserve physical and cultural wealth, as well.

Physical wealth includes ownership and control over resources (labor, capital, land, and entrepreneurship) and goods (especially durable consumption goods). Those with more ownership and control of goods and resources, tend to be more conservative.

A suburban consumer like Jonathan McJohnson tends to be more conservative because he owns a house, two cars, household appliances, furniture, a computer, garden tools, and sporting equipment, even though he has almost no financial wealth.

Cultural wealth includes the body of cultural attributes, including language, religion, history, and other intangible institutions, that make up a nation. Those who share in those attributes have a greater cultural wealth, which they would like to conserve, and thus tend to be more politically conservative.

A solid citizen like Herb Haberstone, for example, has very little physical or financial wealth, but tends to have conservative political views because he shares the dominant language, religion, and history of the country. Although by no means wealthy, Herb wants to conserve the dominant intangible institutions of the country.

Favored Policies

Policies favored by political conservatives typically promote, protect, or otherwise conserve the financial, physical, and cultural wealth of a nation. A short list includes:
  • Safety: Conservatives favor policies that protect wealth both from other nations and other members of society. As such they tend to be strong on national defense and law enforcement. In the perpetual debate over guns versus butter, conservatives usually come out in favor of guns.

  • Business Environment: Policies that promote business profitability also tend to be favored by political conservatives. As such, they are usually opposed to government regulations (such as environmental, occupational safety, and minimum wage), while they are supportive of government subsidies for capital investment (such as investment tax credits and lower capital gains taxes).

  • Economic Stability: When it comes to economic stability, conservatives usually consider inflation (which erodes financial wealth) a bigger problem than unemployment (which is more harmful to people with less wealth). Conservatives also support government stabilization policies that are less likely to redistribute wealth. Monetary policy is usually preferred over fiscal policy.

<= CONGRESSIONAL BUDGET OFFICECONSTANT-COST INDUSTRY =>


Recommended Citation:

CONSERVATIVE, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: January 18, 2018].


Check Out These Related Terms...

     | liberal | four estates | second estate | third estate | incentives | capitalism | equity | efficiency | ownership and control | free enterprise | laissez faire | paternalism |


Or For A Little Background...

     | political views | normative economics | government functions |


And For Further Study...

     | economic goals | distribution standards | economic system | economic thinking | American Enterprise Institute | Cato Institute |


Related Websites (Will Open in New Window)...

     | Republican National Committee | Republican Party of America |


Search Again?

Back to the WEB*pedia


APLS

GRAY SKITTERY
[What's This?]

Today, you are likely to spend a great deal of time flipping through the yellow pages looking to buy either a how-to book on surfing the Internet or a computer that can play music and burn CDs. Be on the lookout for slightly overweight pizza delivery guys.
Your Complete Scope

This isn't me! What am I?

The word "fiscal" is derived from a Latin word meaning "moneybag."
"Twenty years from now you will be more disappointed by the things that you didn't do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover."

-- Mark Twain

IJIO
International Journal of Industrial Organization
A PEDestrian's Guide
Xtra Credit
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.

User Feedback



| AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
| About Us | Terms of Use | Privacy Statement |

Thanks for visiting AmosWEB
Copyright ©2000-2018 AmosWEB*LLC
Send comments or questions to: WebMaster