What is fiscal conservatism and how does it work?
Fiscal conservatism is a type of economic policy which main objective is to avoid deficit spending at all times. Can this really be achievable and how do you in principle follow this type of fiscal policy? Are you a proponent of it, why and why not? Please explain.
Let’s begin with fiscal conservatism, then. It begins with integrity. You do excellent work. Not good work: excellent work. You know that your reputation, livelihood and security depend on the work you do. You take pride in the quality of your work: what you do and how you do it. You mind the details. You build good relationships, preferably with others who do excellent work. Where that is not possible – because you know the world is not Utopia and is made of all kinds of people with different priorities and abilities – you make sure those relationships do not imperil your work or reputation.
Here are the principles of fiscal conservatism
The World is Risky: Don’t Make it Riskier.
Thou Shalt Not Squander.
Do Good Work.
Reward Good Work.
Do Not Tolerate Waste.
Save Your Seeds.
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