I assume that it used to stand for "library", and this was changed to discourage people from thinking of this library as the default license for libraries, and consider using the GPL instead. For example, the GNU Readline library is GPL, and this is reportedly the reason why CLISP is also GPL'd.
Yes, but GP was suggesting that the GNU LGPL 2.1 was a possible successor license to the GPL 2, based on the quote in the LGPL 2.1 text that says
> [This is the first released version of the Lesser GPL. It also counts as the successor of the GNU Library Public License, version 2, hence the version number 2.1.]
I assume that it used to stand for "library", and this was changed to discourage people from thinking of this library as the default license for libraries, and consider using the GPL instead. For example, the GNU Readline library is GPL, and this is reportedly the reason why CLISP is also GPL'd.