Liberal hence Libertarianism is definitialy a shortening of Economic Liberal. What you're quoting is the colloquial/slang/propaganda definition. Modern "liberals" are absolutely better than classic liberals. Simply by virtue of their tepid support for social safety nets. That isn't their failing. Their failing is that despite being "liberals" they're still, and more importantly more committed to economic liberalism than they are social investment. And as such, eager to reach across the aisle to normalize and work with bigots, proto fascists, and full fledged fascists. Just to appear bipartisan.