Conservatives look to individual character values as a basis for a strong society. The liberal takes a historical view. One hundred years ago, when this country was largely rural, life was much simpler. With a few trips to the general store, a homesteader could be practically self-sufficient. In today's urban society, on the other hand, careers are specialized and technology complex.
Regulation is needed for life to run smoothly.
Not too long ago this country had virtually unlimited natural resources. Today, those resources would be devoured were it not for government regulation. Consumers, also, have required protective laws. Nonetheless, conservative economics is stronger today than at any time since the roaring '20s. With the Great Depression, laissez faire government was re-evaluated.