Main Entry: lib·er·al·ism Pronunciation: 'li-b(&-)r&-"li-z&m Function: 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 standardThat was from Merriam Webster Online.
Sort of a back to the future definition. Webster's has been turned on its head.