Merriam-Webster Collegiate Dictionary - liberalism

 noun  Date: 1819  1. the quality or state of being liberal  2.  a. often capitalized a movement in modern Protestantism emphasizing intellectual liberty and the spiritual and ethical content of Christianity  b. a theory in economics emphasizing individual freedom from restraint and usually based on free competition, the self-regulating market, and the gold standard  c. a political philosophy based on belief in progress, the essential goodness of the human race, and the autonomy of the individual and standing for the protection of political and civil liberties  d. capitalized the principles and policies of a Liberal party  • liberalist noun or adjective  • liberalistic adjective