Wikipedia is one of the worst reference sources available.
Yes. It is.
On the other hand, no matter how badly they suck, the definition itself remains either correct or incorrect.
In the case of classical liberalism, they appear to be pretty much right on the money.
This is the liberal of today. Classical liberalism is a thing of the past. If you want to live in the past, fine.
 
lib·er·al·ism   [lib-er-uh-liz-uhm, lib-ruh-] Show IPA
noun
1.
the quality or state of being liberal, as in behavior or attitude.
2.
a political or social philosophy advocating the freedom of the individual, parliamentary systems of government, nonviolent modification of political, social, or economic institutions to assure unrestricted development in all spheres of human endeavor, and governmental guarantees of individual rights and civil liberties.
3.
( sometimes initial capital letter ) the principles and practices of a liberal party in politics.
4.
a movement in modern Protestantism that emphasizes freedom from tradition and authority, the adjustment of religious beliefs to scientific conceptio