11. Traditional conservatives believe government, and thus taxes, should be relatively small.

11. Traditional conservatives believe government, and thus taxes, should be relatively small. Conservatives tend to think that market failures are relatively small and inconsequential (and thus the government does not need to correct them) or that the government is very ineffective at correcting market failures (and thus the government should not even try to correct them.) This concept is most relevant to module 10 (Fiscal Policy).