Defining the terms. Classic liberalism is a political ideology and a branch of liberalism which advocates civil liberties under the rule of law, and emphasizes economic freedoms found in economic liberalism which is also called free market capitalism. The core of classical liberalism is the idea that in an environment of laissez-faire governance, a natural order of cooperation in exchanging goods and services emerges which satisfies human goals and desires.
Key basic ideas of classic liberalism: Personal choice, individual liberties, and self-government are crucial in developing society; reasoning, instead of authority and tradition, is best in understanding the sociopolitical aspects of the state. Classic liberals do not make important distinctions between individual freedom and economic freedom (which permits economic inequalities and other prejudices that persist with class systems).
Modern conservatism wants to preserve traditional morality and social mores, often by opposing what they consider radical policies or social engineering. The basic foundations of American conservatism can be boiled down to four fundamental concepts:
Conservatives universally advocate a return to limited government. Conservatives advocate free market capitalism, less regulation of economic activity, and fiscal responsibility, and they work to restore the rule of law. Conservatives adhere to order and tradition and God. The Constitution established the idea of continuity and stability of leadership, and provided an orderly process for choosing leaders, making laws, and administering the new republic.
Modern conservatism can be described as anti-communist. Communism is characterized as the philosophical, social, political, and economic ideology and movement with a goal to establish of the communist society, which is a socioeconomic order structured upon the common ownership of the means of production and the absence of social classes, money, and the state. Communism exerted their influence geopolitically and also attempted to subvert the American way of life internally. Communism represented everything abhorrent to Western values: radical, socialistic, and atheist. Modern conservatism retaliated against this with self-reliance instead of the welfare state, private property and entrepreneurship instead of central planning.