The set of political beliefs that emphasizes the preservation of customs and traditions that define the character of a society is known as conservatism. Conservatism values the preservation of traditional institutions and cultural norms, and often resists change in favor of preserving the status quo. Liberalism, on the other hand, focuses on individual freedom and equality and tends to prioritize progress and change. Socialism is an economic system that advocates for the collective ownership of production and distribution of goods and services.