Lets take a look at some definitions:

Main Entry: con·ser·va·tism
Pronunciation: \kən-ˈsər-və-ˌti-zəm\
Function: noun
Date: 1835
1 a: the principles and policies of a Conservative party b: the Conservative party
2 a: disposition in politics to preserve what is established b: a political philosophy based on tradition and social stability, stressing established institutions, and preferring gradual development to abrupt change
3: the tendency to prefer an existing or traditional situation to change
neoconservatism

Main Entry: neo·con·ser·va·tive
Pronunciation: \ˌnē-ō-kən-ˈsər-və-tiv\
Function: noun
Date: 1952

1 : a former liberal espousing political conservatism
2: a conservative who advocates the assertive promotion of democracy and United States national interest in international affairs including through military means

Main Entry: 1 lib·er·al

Function: adjective
Etymology: Middle English, from Anglo-French, from Latin liberalis suitable for a freeman, generous, from liber free; perhaps akin to Old English lēodan to grow, Greek eleutheros free
Date: 14th century
1 a: of, relating to, or based on the liberal arts <liberal education> barchaic : of or befitting a man of free birth
2 a: marked by generosity : openhanded <a liberal giver> b: given or provided in a generous and openhanded way <a liberal meal> c: ample, full
3: obsolete : lacking moral restraint : licentious
4: not literal or strict : loose <a liberal translation>
5: broad-minded; especially : not bound by authoritarianism, orthodoxy, or traditional forms

Merriam-Webster Online