Common meaning:

A social philosophy that promotes civil liberties, individual rights, and free enterprise. It is particularly open to new ideas because it believes everyone has the right to speak.

Hidden meaning of the Equity religion: 

Liberalism is what is keeping the oppressed in a state of slavery.

Discussion:

Equity says that liberalism and its focus on the freedom of individuals is actually a system that keeps oppressed people in a state of slavery.

Equity believers refuse to see just how far we have come from a past of real slavery and oppression. They compare today not with where we have come from, but to a future utopia of perfection. They then claim that since current Western liberal societies fall short of this dream, we must still be living in slavery and oppression.

Believers never propose any solutions for making the current system better but only talk about how things need to be destroyed. Since our current system of Western Liberalism is not perfect, they propose that the solution is to tear it all down and start again; to throw off the shackles of slavery we now live under and aim for the possibility of some future dream.

This dream sounds more like a nightmare to me.