From The Wall Street Journal by former U.S. senator and former candidate for the Republican presidential nomination, Fred Thompson:

The Death of Conservatism Is Greatly Exaggerated

Recent congressional losses, President George W. Bush's unpopularity, and bleak generic ballot poll numbers have conservatives fearing the "liberalization" of America - a move toward secularization, the growth of government, stagnation, mediocrity and loss of freedom.

Yet there is still a way to revive the conservative cause. Doing so will require avoiding the traps of pessimism or election-year quick fixes. Conservatives need to stand back for a moment and think about our philosophical first principles.

Conservatives value the lessons of history and respect faith and tradition. They are skeptical of mass movements, perfect solutions and what often passes for "progress." At the same time, they recognize that change is inevitable. They also know that while man is prone to err, he is capable of great things and is meant to be free in an unfettered market of ideas, not subjugated by a too-powerful government.

These were the principles relied upon by our Founding Fathers, and which paved the way for a Constitution that delineated the powers of the central government, established checks and balances among its branches, and further diffused its power through a system of federalism. These principles led to a market economy, the primacy of the rule of law and the abolition of slavery. They also helped to establish liberal trade policies and to meld idealism and realism in our foreign and military policies.

The power of conservative principles is borne out in the most strong, prosperous and free country in the history of the world. In the U.S., basic constitutional government has been preserved, foreign tyrannies have been defeated, our failed welfare system was reformed, and the confiscatory income tax rates of a few decades ago have been substantially reduced. This may be why the party where most conservatives reside, the Republican Party, has won seven of the last 10 presidential elections.

Still, a lot of the issues that litter the political battlefield today put conservatives on the defensive. What are we going to do to fix the economy, the housing market, health-care costs and education? Some conservatives try to avoid philosophical confrontation with liberals, often urging solutions that would expand the government while rationalizing that the expansion would be at a slightly slower rate.

This strategy simply has not worked. Conservatives should stay true to their principles and remember:

- Congress cannot repeal the laws of economics. There are no short-term fixes without longer term consequences.

- In a free and dynamic country with social mobility, there will be great opportunity but also economic disparity, especially if the country has liberal immigration policies and a high divorce rate.

- An education system cannot overcome the breakdown of the family, and the social fabric that surrounds children daily.

- Free markets, not an expanding and more powerful government, are the solution to today's problems. Many of these problems, such as health-care costs, energy dependency and the subprime mortgage crisis, were caused in large part by government policies.

It's not that conservatives today no longer believe in the validity of these principles. They just find it difficult to stand strong when the political winds are blowing so hard against them. To be sure, standing by conservative principles does not always guarantee success at the ballot box - it did for Ronald Reagan, but not for Barry Goldwater. But abandoning these principles doesn't ensure victory either. Circumstances often play the deciding role. Is there any doubt that the Carter administration's misery index and the Iranian hostage crises allowed Reagan to prevail in 1980?

In this unpredictable world, conservatives should adhere to their fundamental ideals. These ideals have brought our country much success, and may well win the day again. Conservatives must have faith that, more often than not, Americans will make the sacrifices necessary to preserve national security and prosperity.

A political party that adheres to conservative principles should have continuing success - especially if its leadership believes in those principles and is able to articulate them.