Let's Review : Liberalism and Socialism - The Founding Intent ...

Liberalism was a reaction to feudal society, involving: 
focus on the individual,  
idea of responsible government 
support for Laissez-Faire capitalism,  
belief in individual rights and freedoms
Liberalism was founded on the belief that : 
man is naturally good 
gov’t should interfere as little as possible in economic and social lives  
individual rights are most important  
people give gov’t the authority to rule, and can take it away if they are unhappy

Socialism was a reaction to the Industrial Revolution, characterized by:

rejection of the idea that the wealthy “deserve their wealth” because they created it – but instead an argument that wealthy exploit working classes
vision of society based on economic equality 
belief in cooperation, 
production for benefit of all 
idea of public ownership of means of production

Socialism vs. Liberalism

AGREE that… 
all people deserve equal treatment

unlike Liberalism, Socialism did not believe people could develop individually 
Socialism is not suspicious of the state – in fact, Socialists rely on government to regulate services and to provide for common good

Definitions can explain the differences  
however definitions don't always reflect distorted real-world scenarios.