Liberal conservatism incorporates the classical liberal view of minimal government intervention in the economy. Individuals cannot be thoroughly depended on to act responsibly in spheres other than economic self-interest, so we need (1) a strong state to ensure law and order, and (2) social institutions that create a sense of duty and responsibility to the nation.

“Liberal conservatism” originally denoted a combination of economic liberalism (laissez-faire markets) with the classical conservatism concern for established tradition, respect for authority, and religious values.

Europe: Liberal conservatism combines the (now conservative) embrace of free market economics and belief in individual responsibility with social liberal embrace of civil rights, environmentalism, and a (limited) welfare state.

America: After free market capitalism became the norm, the term liberal conservatism was replaced with conservatism. In such places (like the US) the tradition is economic liberalism.