Government Intervention Pt. 2

Conservatism

A general preference for the existing order of society and an opposition to all efforts to bring about rapid or fundamental change in that order. Conservative ideologies characteristically strive to show that existing economic and political inequalities are well justified and that the existing order is about as close as is practically attainable to an ideal order. Conservative ideologies most often base their claims on the teachings of religion and traditional morality and tend to downplay the reliability of purely rational or deductive social theories propounded by secular philosophers, economists, and other social thinkers. The specific content of "conservatism" is highly variable across societies and over time, since the arguments necessary to defend the status quo depend upon what the status quo is in any particular country. Because American political and economic institutions were very heavily influenced by 18th and 19th century liberal thought and because America had essentially no experience of the kind of feudal and aristocratic institutions that persisted for so long in Europe, contemporary American conservatism's content includes a much stronger commitment to free markets, individual rights, and political democracy and much less attachment to hereditary aristocracy and state-support for a particular religion than is characteristic of contemporary European conservatism.
In Maddox and Lilie's classification of American political ideologies, a political point of view characterized by relatively high support for activist government intervention to enforce traditional morality or social values coupled with relatively high opposition to activist government when it comes to intervening in economic or business affairs.

Read more here.

Government Intervention

Laissez-faire economics

The laissez faire principle expresses the preference for an absence of non-market pressures on prices such as those from government taxes, subsidies, tariffs, regulation (other than protection from coercion and theft), or government-granted or coercive monopolies. As developed in Hayek'sThe Pure Theory of Capital, the goal is the preservation of the unique information contained in the price itself.
Various forms of socialism based on, or which advocate, free markets have existed since the 19th century. Early notable socialist proponents of free-markets include Pierre-Joseph Proudhon,Benjamin Tucker and the Ricardian socialists, who believed that genuinely free markets andvoluntary exchange cannot exist within the exploitative conditions of capitalism.
These proposals ranged from various forms of worker cooperatives coordinated by free markets such as Mutualism (economic theory), to state-owned enterprises competing with each other in open and unregulated markets. These models of socialism are not to be confused with other forms of market socialism, such as the Lange model, where publicly-owned enterprises are coordinated by a degree of economic planning in setting prices for capital goods.

Read more here.