con·ser·va·tism noun \kən-ˈsər-və-ˌti-zəm\
: belief in the value of established and traditional practices in politics and society
: dislike of change or new ideas in a particular area
Full Definition of CONSERVATISM
1 capitalized
a : the principles and policies of a Conservative party
b : the Conservative party
2 a : disposition in politics to preserve what is established
b : a political philosophy based on tradition and social stability, stressing established institutions, and preferring gradual development to abrupt change; specifically : such a philosophy calling for lower taxes, limited government regulation of business and investing, a strong national defense, and individual financial responsibility for personal needs (as retirement income or health-care coverage)
3 : the tendency to prefer an existing or traditional situation to change
Populism
Political program or movement that champions the common person, usually by favourable contrast with an elite. Populism usually combines elements of the left and right, opposing large business and financial interests but also frequently being hostile to established socialist and labour parties. In the U.S. the term was applied to the program of the Populist movement of the 1890s.