Liberalism (noun)

1. A political ideology based on the belief in liberty, democracy, and the protection of individual rights.
2. A theory in economics emphasizing individual freedom from restraint and usually based on free competition, the self-regulating market, and the gold standard.

Origin:

Early 19th century: from liberal + -ism. the term originally denoted the attitude of a liberal, or someone who was favourable to progressive reform, and was applied specifically to the doctrine of free trade in the mid 19th century.

Examples:

1. He is a strong advocate of liberalism.
2. The party is committed to liberal principles.
3. The country has a liberal democracy.
4. The economic policies of the government are based on liberalism.
5. The concept of liberalism has evolved over time.