In Galbraith's Economics in perspective. A critical history (a spanish edition, bear that in mind), by chapter 2 the author says:
The conservatives, in a non-socialist economy, proclaim the right to private propery, while the leftist socialist (liberals, in the american jargon) proclaim energically, but cautiously, the superior interest of the State or the colective
Original English text (1987):
The conservative in the nonsocialist economy stands with unthinking eloquence for "the rights of private property," while those on the social left — liberals, in American parlance — contentiously but cautiously assert the higher claims of the state or the public interest.
I understand that (roughly) non-socialist$\implies$the State does not intervene$\implies$individualism and private property and also that socialist$\implies$the State does intervene$\implies$colectivism (but not necesarilly negating private property)
I do not understand the leftist socialists = liberals in the american jargon probably because I don't really understand what leftist and liberal mean.
Can someone clarify the sentence please (from an economical point of view)?
Also please bear in mind that the sentence could be terribly translated (from spanish) and that I'm only begining to read about these topics and not yet familiar with the type of reasoning used in social sciences.
Thanks! and please add whatever tags you think are needed