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liberalism (n.)

"liberal principles," especially the political principles of a liberal party, 1819, from liberal (adj.) in the political sense + -ism.

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Definitions of liberalism from WordNet

liberalism (n.)
a political orientation that favors social progress by reform and by changing laws rather than by revolution;
liberalism (n.)
an economic theory advocating free competition and a self-regulating market;
From wordnet.princeton.edu