This post is about definition. Therefore, in the core it can't be judged as right or wrong from a scientific view point although it can be assessed from a logic perspective, especially in order to analyze its utility. Agreeing with its assertions only could ultimately achieve a convention but not, per se, to find the truth.
In his essay Why I am not a Conservative, Friedrich Hayek supplies reasons for not to regard himself as a conservative. This way, he was attempting to refute the perception which many had about him. Nevertheless, even after the publication of the essay in 1960, conservatives as conspicuous as Robert Nisbet continued considering him a conservative. There are reasons for this: Hayek was a declared foe of coercion; this is: of changing the distribution of rights. (As a matter of anecdote, I became a conservative thanks to Hayek.)
Conservatism of rights can collide with the fundamental classical liberal dogma of freedom only in a society allowing for legal slavery. In that unique scenario, the liberal would fight for changing the distribution of rights while a coherent conservative would defend the current distribution of rights.
What does a conservative conserve
There are several kinds of conservatism because there are several issues which may be desired to conserve. Two main kinds of conservatism are norms conservatism and moral conservatism.
A norms conservative pursues to conserve rights (or being redundant: property rights). Obviously, the existence of such rights has to have a refference to a concrete rules structure.
A moral conservative wants to conserve moral values: specific uses of freedom (i.e. property on oneself) and after all advices on how not to use freedom which transgression does not imply coercion (this is: violation of another's property). It is important to take into account, nevertheless, that to a norms conservative this conservation only can be done through moral means and not through coercion.
Conservatism as political ideology
Conservatism is an political ideology (an ideology which can be used by, say, a political party in order to guide its program) consisting in defending rights legitimately established in a concrete rules structure.
In the parliament, the conservative congressman radically defends the current rules structure and fiercely attacks bills looking for changing the rights frontiers but only fixing new frontiers where there were not. The conservative congressman typically proposes few laws and makes a lot of political control. In particular, this person never will propose a bill to re-distribute rights and will always analyze carefully bills which he presents to discard such re-distributions. Bills developed by him will pursue sanctioning and clarifying frontiers already draft.
In the executive branch, the conservative administration follows a tame obedience to the parliament. If it offers a bill will be exclusively to fine tune the State management.
The judiciary is called to be the most conservative of all political powers.
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