I have heard this named as a difference between liberals and progressives. Progressives want to reform away everything they think is wrong, in the name of societal progress. Liberals, while not being conservative (opposed to change), care more for liberty and equality, respecting even views they don't like.
That's kind of the way I see it. I don't know if there are solid definitions for these terms, so I'm open to corrections if I'm way off here.
I would prefer just calling it the 'Free and Open Society' (ala Karl Popper's book The Open Society and Its Enemies[1]). IMO any political philosophy that says things "must go this way" or that somehow their ideas are handed down from a higher power is harmful (i.e. authoritarianism). It's not about trying to promote inequality either, and using the free market or something as an excuse, it's about promoting criticism and transparency. And I truly believe political philosophies like Marxism are against critical thinking and anti-science. Most people who espouse some kind of Marxist beliefs have never bothered reading any Popper which is quite telling to me.
inb4 "but that sounds like libertarianism which everyone knows only rich bigoted fedora wearing assholes like!"
That's kind of the way I see it. I don't know if there are solid definitions for these terms, so I'm open to corrections if I'm way off here.