Oakeshott's conservatism rejects the rationalist project of designing institutions to maximize any value, including freedom, making it structurally incompatible with liberal justificatory frameworks.

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Conservatism(The passage disambiguates conservatism from its traditional European institutional associations to allow for non-European variants.): A political disposition that is not necessarily defined by defence of a landed nobility, monarchy, and established church.
Liberal justificatory frameworks(the theoretical approach said to be incompatible with Oakeshott's view): The standard arguments that liberal political systems (like democracies) use to explain why they're good—usually based on individual freedom, rights, or maximizing some value like happiness.
Oakeshott(the subject of the statement): Michael Oakeshott was a 20th-century British philosopher who argued that good governance comes from traditions and practical experience rather than abstract theories or grand plans.
Rationalism (in this context)(what Oakeshott rejects): The idea that you can design perfect institutions from scratch using pure reason and logic, rather than relying on what already exists and has been tested by time.
Structurally incompatible(describing the relationship between Oakeshott's conservatism and liberal frameworks): So fundamentally opposed in their core logic that they cannot work together—like trying to build a building on two different architectural blueprints at once.

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