Economic Definition of liberal. Defined.
Offline Version: PDF
Term liberal Definition: A political view that favors--(1) paternalistic government, (2) correction of market failure with government intervention, (3) equal opportunities for all citizens regardless of race, age, gender, ethnic origin, or planet of origin, (4) redistribution of income and wealth, and (5) extensive regulation and control by government over the profit-seeking businesses of the second estate.
Permalink: https://glossary.econguru.com/economic-term/liberal