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Noun: liberalism  'li-b(u-)ru,li-zum
  1. A political orientation that favours social progress by reform and by changing laws rather than by revolution
  2. An economic theory advocating free competition and a self-regulating market

Derived forms: liberalisms

Type of: economic theory, ideology, mythos, political orientation, political theory

Encyclopedia: Liberalism, a Socio-Economic Exposition