What exactly is the difference between Conservatives, Lib Dems and Labour?

[Fancy That]

In the US at least, the following applies.

Conservatives, who tend to be republicans or GOP believe that people serve the institution, in allowing events to unfold with minimal interference. That government should stay out of business and let the market work as it will. They tend to abhore social programs.

Democrats, who tend to be liberal, believe that the instututions should serve the people and that events should be controlled for the betterment of the human condition. They believe that the government should assist businesses, but also regulate them and give incentives to share the wealth. Democrats believe im promoting social programs.

Can't speak to labor. I know that conservative and liberal are different in the UK and the US.