Position Statement - Finance & the Economy

By William J. Dodwell

Comprehensive Conservatism invokes the interaction of politics, culture and commerce in an extension of traditional fiscal and social conservatism. Politics is largely about people in relation to government. Culture concerns people as individuals vis a vis society as defined by their behavior and expression. The economy refers to the milieu in which people transact business, work, pay taxes, and prosper or not. The commercial interest intersects with politics with respect to government influence on consumption, investment and the profit motive be it through restraints or subsidies affecting individuals or businesses.

Here the focus centers on how conservatism addresses the public sector unduly restricting the private economy through spending, taxation and regulation. Commerce also impinges on culture through such things as special interest advocacy, the emphasis on media ratings, and even so-called prosperity gospel. As such, economic conservatism rests on individual choice and limited government characterized by free markets, low taxes and minimum regulation. It rejects the entitlement mentality, except for the truly needy, but acknowledges the need for certain restraints against commercial exploitation, especially in the financial markets.

This section discusses the issues that concern the effectiveness of the global economy, the financial markets and the banking system relative to government regulation and economic growth in the context of Comprehensive Conservatism. In the process, I incorporate 40 years of Wall Street experience.