The marriage between capitalism and conservatism has been a strange one. While conservative parties around the world differ widely in their composition and specific policy proposals, conservatism as an ideology can broadly be described as a defense of the established order. Social stability, the maintenance of tradition, and a hierarchical view of society tend to be consistent aspects of any conservative creed.
It’s precisely these characteristics of conservatism that make American conservatives’ wholehearted embrace of capitalism so puzzling. In its purest form, capitalism is a revolutionary ideology par excellence, at least in terms of its social consequences. In its constant search for new markets, labor, materials, and technologies, free-market capitalism mercilessly upends communities, industries, social classes, and even basic human norms and values.
The profoundly destabilizing nature of such an economic system was identified by no less than Karl Marx, who observed that in capitalist societies, “All fixed, fast-frozen relations, with their train of ancient and venerable prejudices and opinions, are swept away, all new-formed ones become antiquated before they can ossify. All that is solid melts into air, all that is holy is profaned.”