Conservative thought emphasizes the importance of tradition, stability, and continuity in society. It often values established institutions, such as family, religion, and government, believing they provide a framework for social order and moral guidance. Conservatives typically advocate for gradual change rather than radical reforms, prioritizing the preservation of cultural heritage. Economically, conservative thought often supports free markets and limited government intervention. Proponents argue that individual entrepreneurship and personal responsibility lead to prosperity and innovation. This perspective is frequently associated with figures like Adam Smith and policies that promote fiscal responsibility, lower taxes, and deregulation to encourage economic growth.