Quantum Windbag
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"Classic Liberalism" is a made up term by conservatives. "Liberalism" is not "classic". Its a philosophy of growth geared to the betterment of Humanity. It does not adhere to tradition. That's the realm of Conservatism.
lib·er·al   /ˈlɪbərəl, ˈlɪbrəl/ Show Spelled[lib-er-uhl, lib-ruhl] Show IPA
adjective
1. favorable to progress or reform, as in political or religious affairs.
2. ( often initial capital letter ) noting or pertaining to a political party advocating measures of progressive political reform.
3. of, pertaining to, based on, or advocating liberalism.
4. favorable to or in accord with concepts of maximum individual freedom possible, especially as guaranteed by law and secured by governmental protection of civil liberties.
5. favoring or permitting freedom of action, especially with respect to matters of personal belief or expression: a liberal policy toward dissident artists and writers.
EXPAND6. of or pertaining to representational forms of government rather than aristocracies and monarchies.
7. free from prejudice or bigotry; tolerant: a liberal attitude toward foreigners.
8. open-minded or tolerant, especially free of or not bound by traditional or conventional ideas, values, etc.
9. characterized by generosity and willingness to give in large amounts: a liberal donor.
10. given freely or abundantly; generous: a liberal donation.
11. not strict or rigorous; free; not literal: a liberal interpretation of a rule.
12. of, pertaining to, or based on the liberal arts.
13. of, pertaining to, or befitting a freeman.
COLLAPSEnoun
14. a person of liberal principles or views, especially in politics or religion.
That is the typical progressive argument. Unfortunately for you, philosophy actually disagrees.
2.1 Classical Liberalism
Liberal political theory, then, fractures over the conception of liberty. But a more important division concerns the place of private property and the market order. For classical liberals sometimes called the old liberalism liberty and private property are intimately related. From the eighteenth century right up to today, classical liberals have insisted that an economic system based on private property is uniquely consistent with individual liberty, allowing each to live her life including employing her labor and her capital as she sees fit. Indeed, classical liberals and libertarians have often asserted that in some way liberty and property are really the same thing; it has been argued, for example, that all rights, including liberty rights, are forms of property; others have maintained that property is itself a form of freedom (Gaus, 1994; Steiner, 1994). A market order based on private property is thus seen as an embodiment of freedom (Robbins, 1961: 104). Unless people are free to make contracts and to sell their labour, or unless they are free to save their incomes and then invest them as they see fit, or unless they are free to run enterprises when they have obtained the capital, they are not really free.
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2.2 The New Liberalism
What has come to be known as new, revisionist, welfare state, or perhaps best, social justice, liberalism challenges this intimate connection between personal liberty and a private property based market order (Freeden, 1978; Gaus, 1983b; Paul, Miller and Paul, 2007). Three factors help explain the rise of this revisionist theory. First, the new liberalism arose in the late nineteenth and early twentieth centuries, a period in which the ability of a free market to sustain what Lord Beveridge (1944: 96) called a prosperous equilibrium was being questioned. Believing that a private property based market tended to be unstable, or could, as Keynes argued (1973 [1936]), get stuck in an equilibrium with high unemployment, new liberals came to doubt that it was an adequate foundation for a stable, free society. Here the second factor comes into play: just as the new liberals were losing faith in the market, their faith in government as a means of supervising economic life was increasing. This was partly due to the experiences of the First World War, in which government attempts at economic planning seemed to succeed (Dewey, 1929: 551-60); more importantly, this reevaluation of the state was spurred by the democratization of western states, and the conviction that, for the first time, elected officials could truly be, in J.A. Hobson's phrase representatives of the community (1922: 49). As D.G. Ritchie proclaimed:
be it observed that arguments used against government action, where the government is entirely or mainly in the hands of a ruling class or caste, exercising wisely or unwisely a paternal or grandmotherly authority such arguments lose their force just in proportion as the government becomes more and more genuinely the government of the people by the people themselves (1896: 64).
Liberalism (Stanford Encyclopedia of Philosophy)
In other words, the major difference between a classical liberal and a modern liberal/progressive is the belief that government can be taken out of the hands of the ruling class and actually represent the people, and that property rights are actually a barrier to liberty. The problem is that once progreesives started working toward this ideal they actually became part of the ruling class, and exacerbated the problem they were trying to fix.