Like its widely praised predecessor False Dawn, Two Faces of Liberalism, hailed by the Los Angeles Times as ''elegant and powerful,'' offers a thoughtful and provocative analysis of the liberal tradition in politics. John Gray, an eminent professor at the London School of Economics, ''picks large and interesting topics and says arresting things about them,'' according to the New York Review of Books. Two Faces of Liberalism argues that, in its beginning, liberalism contained two contradictory philosophies of tolerance. In one, it put forward the enlightenment vision of a universal civilization. In the other, it framed terms for peaceful coexistence between warring communities and between different ways of life. In this major contribution to political theory, Gray's new book ''takes us beyond the current debate''(The New York Times Book Review) of traditional liberalism to keep up with the complex political realities of today's increasingly divided world.