Liberalism: a set of ideas for limiting state authority in relationship to the private-sector market or individual expression.
A political philosophy primarily concerned with the legitimacy of political power and emphasizing the priority of individual liberty over collective power.
Source: ‘What is Good? What is Bad? The Value of All Values across Time, Place and Theories’ by John McMurtry, Philosophy and World Problems, Volume I-III, UNESCO in partnership with Encyclopedia of Life Support Systems: Oxford, 2004-11.