Despite the US connotation associated with the name, the Liberal Party is conservative in political stance. Robert Menzies helped found the Liberal Party in 1944 and was the Prime Minister from 1939 until 1941 and then again from 1949 until 1966.<ref>[http://www.liberals.net/liberalpartyhistory.htm History of the Liberal Party in Australia]</ref> The term "liberal" refers to the party's predominantly-[[free market|free-market]] approach to [[economics|economic management]]. | Despite the US connotation associated with the name, the Liberal Party is conservative in political stance. Robert Menzies helped found the Liberal Party in 1944 and was the Prime Minister from 1939 until 1941 and then again from 1949 until 1966.<ref>[http://www.liberals.net/liberalpartyhistory.htm History of the Liberal Party in Australia]</ref> The term "liberal" refers to the party's predominantly-[[free market|free-market]] approach to [[economics|economic management]]. |