Based on this comment tree, I'm tempted to believe neither of them mean anything. Or at least very few people are aware of whatever real definition they have. But many people have opinions about it.

They do mean things, but most who toss the words around only use it to mean "thing that I don't like"

> Or at least very few people are aware of whatever real definition they have

I mean, like many things, the meaning of 'liberal' has shifted over the last few centuries, and always differed somewhat between regions anyway. Words in English mean what people use them to mean.

Not really. Ever seen a "liberal" liberate or a "conservative" conserve?

The term got its current usage when FDR came in because at that time it was a matter of "burn it all down" (real socialism) vs "fix the private property system around the margins".

See https://en.wikipedia.org/wiki/Classical_liberalism

I think by liberal he meant the Edwardian liberal. It's the predominant meaning of that label in the US