When Fukuyama talks about Liberalism, he means it in the classical sense, as understood by 18th-century political thinkers such as John Locke. It is centered on the dignity of the human being. Consider this question: can it ever be justified for a 51% majority to pass a law to kill the remaining 49% of the population? According to Democracy, this might be justified based on the principle of majority rule. However, according to Liberalism, it is not justified because each person, even a minority, possesses a fundamental right to life.
https://www.youtube.com/watch?v=rGhyqarelOY&t=1100s
