Liberalism, in the classical economic sense, is the opposite of socialism.
Liberalism means favoring individual liberty, being open minded about things and cultures even if they're not your own. Laizzes fair, live and let live, whatever floats your boat.
Not your definition.
Classic liberalism yes. You are correct.
That's just not what it means today politically. Not totally anyway. Classic liberalism is what we know now as libertarians.
And no wes in today's climate they are no different. Other than the occasional joe manchin/joe lieberman types. And dare I say it, Doug jones. Liberals and progressives are used interchangeably to describe someone who sits on the left end of the spectrum. Most democrats fit this bill now. 20 years ago? No but today yes. Without blatant cheating, a far left loon would have been the democrat nominee.