Okay, two words…

lib·er·al  /ˈlɪbərəl, ˈlɪbrəl/
adjective
1. favorable to progress or reform, as in political or religious affairs.
2. (often initial capital letter) noting or pertaining to a political party advocating measures of progressive political reform.
3. of, pertaining to, based on, or advocating liberalism.
4. favorable to or in accord with concepts of maximum individual freedom possible, especially as guaranteed by law and secured by governmental protection of civil liberties.
5. favoring or permitting freedom of action, especially with respect to matters of personal belief or expression: a liberal policy toward dissident artists and writers.

lib·er·al·ism   /ˈlɪbərəˌlɪzəm, ˈlɪbrə-/
noun
1. the quality or state of being liberal, as in behavior or attitude.
2. a political or social philosophy advocating the freedom of the individual, parliamentary systems of government, nonviolent modification of political, social, or economic institutions to assure unrestricted development in all spheres of human endeavor, and governmental guarantees of individual rights and civil liberties.
3. (sometimes initial capital letter) the principles and practices of a liberal party in politics.
4. a movement in modern Protestantism that emphasizes freedom from tradition and authority, the adjustment of religious beliefs to scientific conceptions, and the development of spiritual capacities.

But now I understand why I don’t understand.