A quote from the Rebbe, printed in the New York Times 1972:
I don’t believe that Reform is liberal and Orthodox is conservative. My explanation of conservatism is someone who is so petrified he cannot accept something new. For me Judaism or Halakhah or Torah encompasses all the universe, and it encompasses every new invention, every new theory, every new piece of knowledge or thought or action. Everything that happens in 1972 has a place in the Torah, and it must be interpreted, it must be explained, it must be evaluated from the point of view of Torah even if it happened for the first time in March of 1972.
Quoted in New York Times, March 27, 1972, p. 39.